NZ dollar gains from post-Fed low, traders assess RBNZ's 'watch and wait'

Thu, 29 Oct 2015

By Jonathan Underhill Oct. 29 (BusinessDesk) - The New Zealand dollar rebounded from its selloff at the start of the day when the US Federal Reserve signalled it may raise interest rates in December, as traders assessed the scope for the local Reserve Bank to cut its benchmark rate this year. The kiwi traded at 66.66 US cents as at 5pm in Wellington, having tumbled after the Fed statement and then initially dropped as low as 66.18 cents after the Reserve Bank of New Zealand statement, from 67.25 cents late yesterday. The trade-weighted in...

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