NZ dollar soars above 75 US cents, highest in more than 2 years, as Fed flags balance sheet trim

Wed, 26 Jul 2017

By Jonathan Underhill July 27 (BusinessDesk) - The New Zealand dollar rose above 75 US cents, to the highest level in more than two years, after the US Federal Reserve said it would begin reducing its bloated balance sheet "relatively soon". The greenback fell against a basket of major currencies after the Fed's announcement. The kiwi dollar reached 75.28 US cents, the highest since May 2015, and was trading at 75.12 cents as at 8am in Wellington from 74.38 cents late yesterday. The trade-weighted index climbed to 79.10, well above the 75...

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