NZ dollar holds gains as Fed nears 'neutral'

Sun, 18 Nov 2018

By Paul McBeth Nov. 19 (BusinessDesk) - The New Zealand dollar held most of its gains from last week after Federal Reserve vice chair Richard Clarida said future rate hikes will depend on data with policy near a 'neutral' setting. The kiwi traded at 68.53 US cents as at 8am in Wellington, from 68.76 cents on Friday in New York but up from 68.23 cents in Asia last week. The trade-weighted index was at 74.71 from 74.83 last week. Clarida told CNBC that any future increases in the federal funds rate will rely on economic data with the 2...

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