NZ dollar rises as greenback declines after Yellen seen pushing back rate hikes

Wed, 25 Feb 2015

By Tina Morrison Feb. 26 (BusinessDesk) - The New Zealand dollar rose, driven by weakness in the greenback after Federal Reserve chair Janet Yellen suggested the US central bank was in no hurry to raise interest rates. The kiwi increased to 75.46 US cents at 8am in Wellington, from 75.29 cents at 5pm yesterday. The trade-weighted index was at 78.02 from 77.92 yesterday. The dollar index, which measures the greenback against a basket of currencies, fell to 94.260 from 94.371 yesterday after the Fed's Yellen, in a second day of testimony...

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