NZ dollar gains with commodity prices ahead of Fed decision on US rates

Tue, 13 Dec 2016

By Jonathan Underhill Dec. 13 (BusinessDesk) - The New Zealand dollar gained with prices of commodities as traders awaited the results of the Federal Reserve's two-day policy meeting that will chart a course for global interest rates. The kiwi dollar advanced to 71.94 US cents as at 5pm in Wellington, from 71.44 cents late yesterday. The trade-weighted index gained to 78.91 from 78.66. Financial markets are positioned for the Fed to announce a 25 basis point increase in the fed funds rate to a range of 0.5 percent-to-0.75 percent. But...

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