NZ dollar sinks on Fed optimism, neutral RBNZ

Thu, 30 Oct 2014

By Paul McBeth Oct. 30 (BusinessDesk) - The New Zealand dollar dropped more than 1 US cent after the Federal Reserve gave an optimistic outlook for the world's biggest economy, stoking talk of interest rate hikes next year, while the nation's own Reserve Bank signalled no rush to raise rates. The kiwi fell to 77.90 US cents at 5pm in Wellington 78.51 cents at 8am and 79.37 cents immediately before the Fed release. The trade-weighted index declined to 76.07 from 76.84 yesterday. The greenback rallied after the Fed confirmed it would end...

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