NZ dollar jumps a US cent after Fed pulls back forecast interest rate hikes

Wed, 16 Mar 2016

By Tina Morrison March 17 (BusinessDesk) - The New Zealand dollar jumped a cent against the US dollar after the Federal Reserve pulled back its expectations for US interest rate hikes this year, on concern about the impact of slower global growth. The kiwi increased to 67 US cents at 8am in Wellington, from 66.04 cents at 7am when the Fed statement was released, and 65.98 cents at 5pm yesterday. The trade-weighted index rose to 71.65 from 70.83 yesterday. The US dollar index, which measures the greenback against a basket of currencies,...

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