NZ dollar gains as US interest rate track weighed before Yellen testimony

Wed, 02 Dec 2015

By Paul McBeth Dec. 2 (BusinessDesk) - The New Zealand dollar gained as investors try to gauge the potential pace of US interest rates hikes, ahead of speeches by Federal Reserve chair Janet Yellen. The kiwi traded at 66.61 US cents at 5pm in Wellington from 66.75 cents yesterday, up from 66.20 cents yesterday. The trade-weighted index rose to 72.29 from 71.99. The dollar index, a measure of the greenback against a basket of currencies, extended its decline as traders look for more guidance on the path for higher interest rates, havi...

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