NZ dollar gains on 'dovish' Yellen, falls vs Canadian dollar after Bank of Canada hikes

Wed, 12 Jul 2017

By Jonathan Underhill July 13 (BusinessDesk) - The New Zealand dollar rose against the greenback after Federal Reserve chair Janet Yellen appeared to put more emphasis on weak inflation in testimony to Congress and fell against the Canadian dollar after Canada hiked interest rates. The kiwi rose to 72.59 US cents as at 8am in Wellington from 72.38 cents late yesterday. It fell to 92.48 Canadian cents from 93.33 cents yesterday. Yellen reiterated the Fed's view that interest rate increases in the US would be gradual and also said the ce...

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