NZ dollar jumps 1 US cent after the Fed unexpectedly keeps tapering on hold

Wed, 18 Sep 2013

By Tina Morrison Sept. 19 (BusinessDesk) – The New Zealand dollar jumped more than 1 US cent after the Federal Reserve unexpectedly chose not to start tapering its US$85 billion a month monetary stimulus programme this month, citing strains in the US economy. The kiwi rose to a four-month high of 83.75 US cents, and was trading at 83.64 cents at 8am in Wellington, from 82.25 cents at the 5pm market close yesterday. The trade-weighted index rose to 77.61 from 77.01 yesterday. The US dollar index, which measures the greenback against a basket...

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