NZ dollar gains as Fed's Clarida backs gradual US rate hikes; RBNZ looms

Tue, 27 Nov 2018

By Paul McBeth Nov. 28 (BusinessDesk) - The New Zealand dollar gained as Federal Reserve vice chair Richard Clarida backed the central bank's gradual approach to raising interest rates, and ahead of the Reserve Bank's six-monthly report on financial stability. The kiwi increased to 67.87 US cents as at 8am in Wellington from 67.64 cents yesterday, staying within recent ranges. The trade-weighted index advanced to 74.32 from 73.96. The yield on 10-year US Treasuries fell 2 basis points to 3.5 percent after Clarida said risks to the US...

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