NZ dollar holds gains after Yellen sticks to rate hike plan

Wed, 10 Feb 2016

By Tina Morrison Feb. 11 (BusinessDesk) - The New Zealand dollar held on to its gains after Federal Reserve chair Janet Yellen signalled the US central bank still intends to continue tightening monetary policy, although conditions had become less supportive. The kiwi was trading at 66.57 US cents at 8am in Wellington, from 66.59 cents at 2am, ahead of Yellen's testimony to the House Financial Services Committee in Washington, and up from 66.17 cents at 5pm yesterday. There were no obvious catalysts for the kiwi to step higher yesterday ev...

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