NZ dollar slips as markets await Yellen, although doubts remain for any major surprises

Thu, 25 Aug 2016

By Jonathan Underhill Aug. 26 (BusinessDesk) - The New Zealand dollar fell as financial markets await a speech from Federal Reserve chair Janet Yellen tonight that may give a clearer view of US monetary policy and therefore the direction of the US dollar. The kiwi fell to 72.97 US cents as at 8am in Wellington, from 73.16 cents late yesterday. The trade-weighted index slipped to 77.35 from 77.50. The market is pricing in just 16 basis points of hikes this year by the Fed, with December seen as the most likely meeting if it does move, a...

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