NZ dollar heads for 3.2% weekly gain as Yellen takes sheen off greenback

Fri, 01 Apr 2016

By Paul McBeth April 1 (BusinessDesk) - The New Zealand dollar is heading for a 3.2 percent weekly gain against the greenback after US Federal Reserve chair Janet Yellen's cautious outlook on the US economy saw investors dial back expectations for a rise in US interest rates and eroded demand for the world's reserve currency. The kiwi rose to 68.96 US cents at 5pm in Wellington from 66.82 cents on Friday in New York last week. It hit a nine-month high 69.66 cents during Northern Hemisphere trading last night and was little changed from 6...

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