NZ dollar gains as US inflation misses expectations; Trump scolds Fed

Thu, 11 Oct 2018

By Paul McBeth Oct. 12 (BusinessDesk) - The New Zealand dollar gained as weaker than expected US inflation prompted traders to reassess their expectations for faster interest rate hikes there. The kiwi rose to 65.18 US cents as at 8am in Wellington from 64.75 cents yesterday. The trade-weighted index advanced to 71.21 from 70.95. The yield on US 10-year Treasuries fell 8 basis points to 3.15 percent as data showed US core inflation was steady at an annual pace of 2.2 percent. That supports the Fed's stance for a gradual increase in in...

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