NZ dollar heads for 0.4% weekly dip after Fed embarks on rate hike cycle

Fri, 18 Dec 2015

By Paul McBeth Dec. 18 (BusinessDesk) - The New Zealand dollar is heading for a 0.4 percent weekly dip after the Federal Reserve raised interest rates for the first in almost a decade, ending a near-zero rate policy that's been in place since the global financial crisis. The kiwi slipped to 66.90 US cents at 5pm in Wellington from 67.19 cents on Friday in New York last week. It traded at 67.03 cents at 8am, down from 67.25 cents yesterday. The trade-weighted index fell to 73.20 from 73.40, and down from 73.32 last week. A BusinessDes...

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