NZ dollar gains as soft US inflation clouds Fed's rate hike outlook

Mon, 28 Mar 2016

By Paul McBeth March 29 (BusinessDesk) - The New Zealand dollar gained as slower inflation in the US in the US prompted traders to dial back the timing of further Federal Reserve interest rate hikes. The kiwi rose to 67.24 US cents at 8am in Wellington from 66.84 cents at 5pm yesterday and 66.82 cents on Friday in New York. The trade-weighted index advanced to 71.71 from 71.52 last week. The US dollar index, a measure of the greenback against a basket of currencies, fell after the PCE deflator, the Fed's preferred measure of inflation...

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