NZ dollar gains as questions over Trump's fiscal policy weigh on US rate outlook

Wed, 17 May 2017

By Paul McBeth May 18 (BusinessDesk) - The New Zealand dollar gained on speculation there will be less need to raise interest rates in the US because the Trump administration is too distracted by imbroglios such as the firing of the Federal Bureau of Investigation chief to enact economy-boosting policies and inflation data has been weak. The kiwi advanced to 69.38 US cents as at 8am in Wellington from 68.96 cents late yesterday. The trade-weighted index increased to 75.21 from 74.86 yesterday. Stocks on Wall Street dropped with the St...

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