NZ dollar holds above 70 US cts as investors pick more aggressive Fed rate hikes

Wed, 13 Jun 2018

By Paul McBeth June 13 (BusinessDesk) - The New Zealand dollar held above 70 US cents in local trading, having dipped on speculation the Federal Reserve may raise interest rates more aggressively than previously anticipated. The kiwi traded at 70.11 US cents as at 5pm in Wellington from 70.03 cents at 8am and down from 70.37 cents yesterday. The trade-weighted index was at 73.62 from 73.72 yesterday. The greenback got a boost from a Wall Street Journal report that Fed chair Jerome Powell plans to hold press conferences more frequently...

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