NZ dollar rises above 73 US cents with little prospect of rate cut next week

Fri, 16 Sep 2016

By Jonathan Underhill Sept. 16 (BusinessDesk) - The New Zealand dollar rose back above 73 US cents on speculation the Reserve Bank will hold off on cutting interest rates next week while the Federal Reserve is seen as unlikely to hike US rates, keeping the kiwi's yield advantage intact. The kiwi rose to 73.06 US cents as at 5pm in Wellington, from 72.66 cents late yesterday. The trade-weighted index rose to 77.93 from 77.63. RBNZ governor Graeme Wheeler is expected to hold fire from cutting interest rates on Sept. 22, preferring to wai...

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