NZ dollar jumps half a US cent as Fed takes cautious approach to future rate hikes

Wed, 30 Jan 2019

By Paul McBeth Jan. 31 (BusinessDesk) - The New Zealand dollar jumped about half a US cent after the Federal Reserve kept interest rates unchanged and was cautious about the pace and timing of any future hikes. The kiwi rose to 69.02 US cents as at 8.30am in Wellington from 68.34 cents immediately before the release, and up from 68.39 cents yesterday. The trade-weighted index gained to 74.19 from 73.78 yesterday. The Federal Open Market Committee kept the federal funds rate target range of 2.25-2.5 percent, saying sustained economic...

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