NZ dollar heads for 1.2% weekly fall as US-NZ interest gap widens

Fri, 28 Sep 2018

By Rebecca Howard Sept. 28 (BusinessDesk) - The New Zealand dollar is heading for a 1.2 percent weekly fall as higher US interest rates add to the greenback's appeal. Still, the kiwi could squeeze higher in the short term as local economic data may undermine the Reserve Bank's attempts to keep alive the chance of a rate cut. The local currency traded at 66.03 US cents at 5pm in Wellington, down from 66.54 cents yesterday and 66.84 cents last Friday in New York. The trade-weighted index was at 71.78 from 72.02 yesterday. The wideni...

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