NZ dollar heads for 2.3% weekly loss as greenback storms higher

Fri, 05 Oct 2018

By Rebecca Howard Oct. 5 (BusinessDesk) - The New Zealand dollar is headed for a 2.3 percent weekly fall against the US dollar after strong data there and hawkish comments from the chair of the Federal Reserve increased speculation that US rates will keep rising. The kiwi traded at 64.65 US cents at 5pm versus 64.78 cents at 8am in Wellington and 64.97 cents yesterday. It was at 66.16 last Friday in New York and is hovering around lows not seen since February 2016. The trade-weighted index dropped to 70.81 from 71.11. The benchmark 10...

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