NZ dollar gains as Fed sticks to script with rate hike, US CPI remains weak, NZ GDP looms

Wed, 14 Jun 2017

By Jonathan Underhill June 15 (BusinessDesk) - The New Zealand dollar rose after weaker-than-expected US economic data and as the Federal Reserve raised its key interest rate as expected and affirmed its track for a further hike this year. The kiwi climbed to 72.70 US cents as at 8am in Wellington and earlier touched 73.19 cents, a four-month high, from 72.21 late yesterday. The trade-weighted index reached 78.33, the highest since early March, and was recently at 77.99 from 77.65 yesterday. The Fed raised the fed funds rate to a range...

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