NZ dollar heads for 1.5% weekly gain after Fed's more cautious outlook on US economy

Fri, 20 Mar 2015

By Tina Morrison March 20 (BusinessDesk) - The New Zealand dollar is headed for a 1.5 percent weekly gain against the greenback after the Federal Reserve gave a more cautious assessment of the US economy, prompting traders to pull back their bets that the US dollar would gain. The kiwi rose to 74.31 US cents at 5pm from 73.64 cents at 8am on Monday. A BusinessDesk survey of currency traders and strategists on Monday picked the kiwi to trade between 71.30 US cents and 75.20 cents this week. Six expected the kiwi to decline, while two said...

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