NZ dollar sinks to lowest level this year on TWI basis as Yellen affirms rate hikes

Sun, 05 Mar 2017

By Jonathan Underhill March 6 (BusinessDesk) - The New Zealand dollar fell to its lowest level this year on a trade-weighted basis after Federal Reserve chair Janet Yellen affirmed market expectations of a rate hike this month and the prospect of further increases this year. The kiwi dollar traded at 70.30 US cents as at 8:30am in Wellington from 70.38 cents in late New York trading on Friday. The TWI fell to 69.95, having touched 76.83 in New York, the lowest since Dec. 24, and from 77.15 in Wellington at the end of last week. Yellen...

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