NZ dollar sinks to lowest level for 2018 as market anticipates upbeat Fed

Mon, 30 Apr 2018

By Jonathan Underhill May 1 (BusinessDesk) - The New Zealand dollar fell to its lowest level so far this year on expectations the Federal Reserve will give an upbeat account of the US economy after this week's two-day meeting, keeping it on track to keep hiking interest rates. The kiwi dollar dropped to 70.33 US cents as at 8am in Wellington and earlier touched 70.30 cents, the lowest since Dec. 27, from 70.77 cents late yesterday. The trade-weighted index fell to 73.19 from 73.51. The US dollar index rose to the highest level in almos...

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