NZ dollar rises above 71 US cents on lack of urgency from Fed to hiking rates

Thu, 28 Jul 2016

By Jonathan Underhill July 28 (BusinessDesk) - The New Zealand dollar rose above 71 US cents for the first time since the start of last week after traders took the Federal Reserve's latest policy review as a signal that it won't rush to raise interest rates until later this year. The kiwi rose to 71.11 US cents as at 5pm in Wellington from 70.38 cents late yesterday. The trade-weighted index rose to 76.02 from 75.50. The Fed left its target interest rate in a range of 0.25 percent to 0.5 percent as expected and said near-term risks to...

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