NZ dollar gains on greenback weakness driven by US rates, economy outlook

Thu, 11 Feb 2016

By Jonathan Underhill Feb. 11 (BusinessDesk) - The New Zealand dollar gained against a broadly weaker greenback on concerns the US economy may not be growing as fast as expected and the track for Federal Reserve interest rate hikes will be slower and lower. The kiwi rose to 66.70 US cents as at 5pm in Wellington, from 66.17 cents late yesterday. The trade-weighted index rose to 72.35 from 72.01 yesterday. In her semi-annual testimony, Fed chair Janet Yellen affirmed her expectation for “gradual increases” in the central bank’s key targ...

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