NZ dollar jumps above 70 US cents after Fed lowers US growth outlook

Wed, 17 Jun 2015

By Tina Morrison June 18 (BusinessDesk) - The New Zealand dollar jumped, rising briefly above 70 US cents, after the US Federal Reserve pulled back its projections for future interest rate rises and lowered its growth estimate for the world's biggest economy this year. The kiwi rose as high as 70.10 US cents from 69.26 cents immediately before the Fed statement at 6am New Zealand time, and was trading at 69.94 cents at 8am from 69.66 cents at 5pm yesterday. The trade-weighted index slipped to 72.67 from 72.73 yesterday. The New Zealand...

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