NZ dollar heads for 1% weekly gain as dairy prices rise, Fed keeps rates on hold

Fri, 18 Sep 2015

By Jonathan Underhill Sept. 18 (BusinessDesk) - The New Zealand dollar rose, and is heading for a 1 percent weekly gain, as increases in dairy prices at the third straight GlobalDairyTrade auction and a more dovish US Federal Reserve helped lift the currency from its recent lows. The kiwi traded at 63.68 US cents as at 5pm in Wellington, from 63.36 cents before the Fed statement and from 63.61 cents late yesterday. It briefly spiked to as high as 64.44 cents after the statement. The trade-weighted index fell to 68.57 from 68.74 yesterday....

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