NZ dollar gains as trade surplus delivers short-term fillip, Fed rate hike timing mulled

Wed, 25 May 2016

By Jonathan Underhill May 25 (BusinessDesk) - The New Zealand dollar gained as a stronger-than-expected trade surplus gave the kiwi a short-term boost while traders mulled the prospects of a US Federal Reserve interest rate hike as soon as next month. The kiwi rose to 67.56 US cents as at 5pm in Wellington, having climbed as high as 67.63 cents after the trade data, from 67.19 cents yesterday. The trade-weighted index rose to 72.84 from 72.48. New Zealand posted a trade surplus of $292 million in April, more than the $60 million expec...

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