NZ dollar holds ground against greenback after Fed hikes rates in 'more hawkish' statement

Wed, 13 Jun 2018

By Jonathan Underhill June 14 (BusinessDesk) - The New Zealand dollar briefly dropped to its lowest level in more than a week before recovering after the Federal Reserve hiked interest rates as expected and projected another two hikes in 2018 and three in 2019. The kiwi traded at 70.18 US cents as at 8:30am in Wellington, having dropped as low as 69.73 cents immediately after the Fed statement from 70.11 cents late yesterday. The trade-weighted index was little changed at 73.62. The Federal Open Market Committee voted to lift the targe...

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