NZ dollar hovers below 73 US cents as greenback finds favour on rate outlook

Mon, 05 Feb 2018

By Rebecca Howard Feb. 5 (BusinessDesk) - The New Zealand dollar held below 73 US cents amid growing expectations the US Federal Reserve will hike rates more aggressively this year after solid jobs data in contrast to the Reserve Bank which will likely reiterate it won't raise rates anytime soon. The kiwi traded at 72.91 US cents as at 5pm in Wellington versus 72.92 US cents as at 8am in Wellington and 73.01 cents on Friday in New York. The trade-weighted index was at 74.58 from 74.69 last week. The greenback got a boost when the US n...

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