NZ dollar pares Fed gains after local GDP softer-than-expected

Thu, 16 Mar 2017

By Rebecca Howard March 16 (BusinessDesk) - The New Zealand dollar pared some of its gains after the US Federal Reserve lifted rates but kept the track for further hikes unchanged after the domestic growth picture was softer than expected. The kiwi dollar was trading at 69.91 US cents as at 5pm in Wellington versus 70.24 US cents as at 8am and 69.31 cents late yesterday. The trade-weighed index was at 76.07 from 75.97. The US dollar took a tumble when the Fed kept to its projection for two more increases this year. "The market got the...

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