NZ dollar gains on reports Trump has tapped Powell as new Fed chair

Thu, 02 Nov 2017

By Rebecca Howard Nov. 2 (BusinessDesk) - The New Zealand dollar gained on reports that US President Donald Trump has selected Jerome Powell as the next chair of the US Federal Reserve although traders say the bounce may be short-lived. The kiwi rose to 69.22 US cents as at 5pm from 68.83 US cents as at 8am in Wellington and 69.08 cents late yesterday. The trade-weighted index was at 73.22 from 73.29. The US dollar eased in Asia after news reports the White House plans to nominate current Fed Governor Jerome Powell as the next chair w...

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