NZ dollar jumps to 3-year high as traders pull back US interest rate bets on dovish Fed minutes

Wed, 09 Apr 2014

By Tina Morrison April 10 (BusinessDesk) – The New Zealand dollar jumped three quarters of a US cent against the greenback to its highest since July 2011 after the Federal Reserve minutes from its last meeting in March pushed out expectations of when the Fed will start raising interest rates. The kiwi jumped as high as 87.25 US cents from 86.47 cents immediately before the release of the minutes at 6am New Zealand time. The local currency was trading at 87.12 US cents at 8am from 87.01 cents at 5pm yesterday. The trade-weighted index edged lo...

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