NZ dollar gains on concerns about pace of US Fed rate hikes

Mon, 01 Feb 2016

By Tina Morrison Feb. 2 (BusinessDesk) - The New Zealand dollar gained against US dollar weakness amid speculation the Federal Reserve may not hike rates as fast as previously expected. The kiwi rose to 65.12 US cents at 8am in Wellington from 64.74 cents at 5pm yesterday. The trade-weighted index increased to 71.46 from 71.19 yesterday. The US dollar index, which measures the greenback against a basket of currencies, declined after Institute for Supply Management data showing the pace of growth in the US manufacturing sector contracte...

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