NZ dollar rangebound after Fed signals unwinding, election still in focus

Thu, 21 Sep 2017

By Rebecca Howard Sept. 21 (BusinessDesk) - The New Zealand dollar gave up earlier gains after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year, remaining rangebound ahead of Saturday's general election. The kiwi traded at 73.21 US cents as at 5pm versus 73.50 US cents as at 8am and from 73.12 cents before yesterday's poll showing the incumbent National Party in the lead. The trade-weighted index was at 76.53 from 75.97 yesterday. The US dollar gained ground...

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