NZ dollar headed for 1.3% weekly gain as investors expect fewer Fed hikes

Fri, 30 Nov 2018

By Rebecca Howard Nov. 30 (BusinessDesk) - The New Zealand dollar is headed for a 1.3 percent weekly gain after the greenback took a tumble as investors pared back expectations for rate hikes by the US Federal Reserve. The kiwi traded at 68.65 US cents at 5pm in Wellington versus 68.44 at 8am and 67.79 US cents last Friday in New York. The trade-weighted index was at 74.78 versus 74.66 late yesterday. The bulk of the lift came mid-week when Federal Reserve Chairman Jerome Powell gave a speech saying that US interest rates "remain just...

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