NZ dollar may extend rally as Yellen's caution keeps investors wary on greenback

Thu, 31 Mar 2016

By Paul McBeth March 31 (BusinessDesk) - The New Zealand dollar may extend its gain after touching a nine-month high after Federal Reserve chair Janet Yellen's caution over the path of future interest rate increases keeps investors wary about holding the greenback. The kiwi climbed as high as 69.64 US cents and traded at 69.02 US cents at 5pm in Wellington from 68.45 cents yesterday. The trade-weighted index rose to 72.94 from 72.56. The greenback sank against most currencies after Yellen urged caution on future rate hikes on Tuesday...

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