NZ dollar rises above 70 US cts as Fed hikes as expected, US inflation comes in weaker

Wed, 13 Dec 2017

By Jonathan Underhill Dec. 14 (BusinessDesk) - The New Zealand dollar rose above 70 US cents after the Federal Reserve hiked interest rates as expected, rounding out a busy session of American news including weaker-than-expected inflation, progress on tax cuts and a Democrat win in Alabama. The kiwi dollar gained to 70.14 US cents as at 8:15am in Wellington, the highest in almost two months, from 69.54 cents late yesterday. The trade-weighted index jumped to 74.02 from 73.62. The Fed hiked the federal funds rate to a target range of 1....

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