NZ dollar holds above 72 US cents after Fed minutes, as NZ growth prospects prevail

Wed, 17 Aug 2016

The New Zealand dollar was little changed above 72 US cents after minutes of the last Federal Reserve meeting showed US policymakers divided on the timing of rate hikes, while domestic indicators added to the case for a strong kiwi. The kiwi traded at 72.47 US cents as at 8am in Wellington, from 72.52 cents late yesterday. It rose to as high as 72.69 cents immediately after the Fed minutes were released before giving up most of the gains. The trade-weighted index was at 76.61 from 76.68. The Federal Open Market Committee minutes showed th...

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