NZ dollar gains as weak US data trims bets on Fed rate hikes

Thu, 16 Oct 2014

By Paul McBeth Oct. 16 (BusinessDesk) - The New Zealand dollar gained as weaker than expected US economic data caused traders to trim their bets on how early the US Federal Reserve will start hiking interest rates. The kiwi rose to 79.72 US cents at 5pm from 79.52 cents at 8am and 78.37 cents yesterday. The trade-weighted index advanced to 77.20 from 76.43 yesterday. The dollar index, a measure of the greenback against a basket of currencies, dropped near a month-low after weaker-than-expected US retail sales and producer price data re...

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