NZ dollar jumps above 69 US cents as US dollar weakness prevails

Wed, 30 Mar 2016

By Tina Morrison March 31 (BusinessDesk) - The New Zealand dollar jumped above 69 US cents overnight, its highest level since June last year, as the US dollar continued to weaken on growing expectations the Federal Reserve won't raise interest rates as fast as previously forecast. The kiwi touched 69.64 US cents and was trading at 69.34 cents at 8am in Wellington, from 68.45 cents at 5pm yesterday. The trade-weighted index rose to 73.21 from 72.56 yesterday. The US dollar index, which measures the greenback against a basket of currenci...

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