NZ dollar gives up gains on Fed balance sheet unwinding

Wed, 20 Sep 2017

By Paul McBeth Sept. 21 (BusinessDesk) - The New Zealand dollar gave up some of its gains from yesterday's poll putting the incumbent National Party in the lead ahead of this weekend's election after the Federal Reserve stuck to its track for future interest rate hikes and started unwinding its massively expanded balance sheet. The kiwi traded at 73.50 US cents as at 8am, having earlier reached a six-week high of 74.33 cents, from 73.12 cents before yesterday's poll that gave a boost to the local currency. The trade-weighted index was at...

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