NZ dollar heads for 2.4% weekly drop as US rate hikes back in focus, payrolls looms

Fri, 06 Nov 2015

By Paul McBeth Nov. 6 (BusinessDesk) - The New Zealand dollar is heading for a 2.4 percent weekly decline after Federal Reserve chair Janet Yellen kept alive the prospect of a rate hike next month ahead of tonight's payrolls report, and as a drop in dairy prices and shrinking employment weighed locally. The kiwi fell to 66.09 US cents at 5pm in Wellington from 67.71 cents on Friday in New York last week. It traded at 66.20 cents at 8am and 65.96 cents yesterday. The trade-weighted index increased to 71.62 from 71.41 yesterday, and is head...

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