NZ dollar hangs near 70 US cents as Fed, Wheeler, dairy auction weigh

Tue, 07 Mar 2017

By Jonathan Underhill March 7 (BusinessDesk) - The New Zealand dollar was hovering around 70 US cents and may fall further on expectations the US Federal Reserve will hike interest rates while the New Zealand Reserve Bank stands pat and, in the short-term, dairy prices are seen tumbling at the auction tonight. The kiwi dollar traded at 70.06 US cents at 5pm in Wellington, having earlier fallen to 69.84 cents, the lowest since Jan. 12, from 70.11 cents late yesterday. The trade-weighted index was at 76.63, having earlier touched 76.59, the...

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