NZ dollar gains as markets wager Fed chair Powell's testimony will be measured

Mon, 26 Feb 2018

By Rebecca Howard Feb. 26 (BusinessDesk) - The New Zealand dollar gained as markets wager new US Federal Reserve chair Jerome Powell will remain measured in his first testimony this week, adding to the view that the Fed will only lift interest rates three times this year. The New Zealand dollar rose to 73.18 US cents as at 5pm in Wellington from 72.85 cents at 8am and 72.88 cents on Friday in New York. The trade-weighted index was at 75 versus 74.84. Powell will testify before the House of Representatives and Senate committees this we...

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