NZ dollar pares gains to be little changed as Fed bets increase, commodities soften

Tue, 30 Aug 2016

By Jonathan Underhill Aug. 30 (BusinessDesk) - The New Zealand dollar pared its gains to be little changed as traders added bets that the Federal Reserve will raise interest rates this year and commodity prices fell, weighing on the currencies of raw material exporters. The kiwi traded at 72.47 US cents at 5pm in Wellington from 72.39 cents late yesterday.The trade-weighted index rose to 77.18 from 77.14. Traders are currently putting on 44 percent odds of a Fed rate hike in September and 63 percent odds of a December hike, having adde...

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