NZ dollar hits highest level this year after better local growth, pullback in Fed rate hike view

Thu, 17 Mar 2016

By Tina Morrison March 18 (BusinessDesk) - The New Zealand dollar hit its highest level this year as investors continued to shed the US dollar after the Federal Reserve pulled back its expectation for interest rate hikes, while stronger-than-expected local growth data made the kiwi more attractive. The local currency touched 68.68 US cents, and was trading at 68.57 cents at 8am in Wellington, from 67.70 cents at 5pm yesterday. The trade-weighted index increased to 72.46 from 71.98 yesterday. The US dollar index, which measures the gree...

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