NZ dollar heads for 1.3% weekly gain as greenback falls on Fed outlook

Fri, 18 Mar 2016

By Paul McBeth March 18 (BusinessDesk) - The New Zealand dollar is heading for a 1.3 percent gain this week as demand for the greenback waned after the US Federal Reserve scaled back planned rate hikes because of weakening prospects for the global economy. The kiwi rose to 68.39 US cents at 5pm in Wellington from 67.50 cents on Friday in New York last week. It traded at 68.57 cents at 8am, up from 67.70 cents yesterday. The trade-weighted index rose to 72.29 from 71.98 last week, and is heading for a 1.1 percent weekly gain. A Busines...

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