NZ dollar retreats as upbeat US data, rising bond yields support greenback

Thu, 17 May 2018

By Jonathan Underhill May 18 (BusinessDesk) - The New Zealand dollar fell, giving up modest gains seen in the wake of yesterday's Budget, as an upbeat indicator of US manufacturing and rising Treasury yields helped underpin the greenback. The kiwi dollar fell to 68.73 US cents as at 8am in Wellington from 69.05 cents late yesterday. The trade-weighted index slipped to 72.13 from 72.30 yesterday. The yield on US 10-year Treasuries is about 3.12 percent, the highest since July 2011 and helping enhance the appeal of the US dollar. The Phi...

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