NZ dollar slips as Fed's Yellen keeps March open for possible US rate hike

Tue, 14 Feb 2017

By Paul McBeth Feb. 15 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve chair Janet Yellen kept open the chance of a rate hike next month as the world's biggest central bank tightens monetary policy, pushing up yields on US Treasuries and stoking demand for the greenback. The kiwi slipped to 71.55 US cents as at 8am from 71.75 cents yesterday. The trade-weighted index edged down to 78.03 from 78.17. Yellen told the US Senate's banking committee that a "gradual rise in rates will be required" and that waiting too lon...

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