NZ dollar gains as weaker US economic data reinforces gradual path of future Fed hikes

Sun, 20 Dec 2015

By Tina Morrison Dec. 21 (BusinessDesk) - The New Zealand dollar advanced as weaker-than-expected US economic data reinforced views that future Federal Reserve interest rate hikes will be gradual. The kiwi was at 67.24 US cents at 8am in Wellington, unchanged from the New York close, and ahead of 66.91 cents at 5pm on Friday. The trade-weighted index gained to 73.42 from 73.21 on Friday. The US dollar index, which measures the greenback against a basket of currencies, slid after a report showed US services PMI, a survey of purchasing m...

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