NZ dollar gains as Fed's hiking plans, US manufacturing data fail to underpin greenback

Thu, 01 Feb 2018

By Jonathan Underhill Feb. 2 (BusinessDesk) - The New Zealand dollar rose against a broadly weaker greenback after the Federal Reserve's reiteration of its rate hike plans and strong US manufacturing data failed to stoke the US currency. The kiwi gained to 73.85 US cents as at 8am in Wellington from 73.66 cents late yesterday. The trade-weighted index rose to 75.15 from 74.96. The ISM manufacturing index was 59.1 in January from 59.3 in December, beating estimates of 58.6 in the latest month. The data came after Federal Reserve chair J...

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