NZ dollar jumps after Fed signals more gradual path for US rate hikes, lower growth

Wed, 15 Jun 2016

By Tina Morrison June 16 (BusinessDesk) - The New Zealand dollar jumped after the Federal Reserve kept interest rates unchanged and signalled the pace of future increases will be slower than previously expected. The kiwi touched a high of 70.70 US cents following the Fed decision and was trading at 70.25 cents at 8am in Wellington from 70.19 cents at 5pm yesterday. The trade-weighted index slipped to 75.06 from 75.13 yesterday. The US dollar index, which measures the greenback against a basket of currencies, declined after Fed official...

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