NZ dollar heads for decline as Fed's Yellen talks up rate hikes this year

Fri, 25 Sep 2015

By Paul McBeth Sept. 25 (BusinessDesk) - The New Zealand dollar is heading for a 0.9 percent decline against the greenback this week as US Federal Reserve chair Janet Yellen said she favoured a rate hike this year in a slow return to normality. The kiwi fell to 63.38 US cents at 5pm in Wellington from 63.93 cents on Friday in New York last week. It was down from 63.56 cents at 8am, though still up from 62.91 cents yesterday. The trade-weighted index rose to 69.17 from 68.67 yesterday, and is heading for a 0.8 percent gain, as the prospect...

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