NZ dollar jumps as Fed chair Powell signals pause to rate hikes

Wed, 28 Nov 2018

By Paul McBeth Nov. 29 (BusinessDesk) - The New Zealand dollar jumped three-quarters of a US cent after Federal Reserve chair Jerome Powell was seen as signalling a pause in interest rate hikes that have buoyed the greenback this year. The kiwi climbed to 68.77 US cents as at 8am in Wellington from 67.94 cents yesterday. The trade-weighted index rose to 74.79 from 74.37 yesterday. The yield on US 10-year Treasuries fell 1 basis point to 3.05 percent and the US dollar index declined 0.6 percent after Powell said the federal funds rate...

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