NZ dollar tumbles after Fischer reiterates view of September rate hike for Fed

Sun, 28 Aug 2016

By Jonathan Underhill Aug. 29 (BusinessDesk) - The New Zealand dollar tumbled after Federal Reserve vice chairman Stanley Fischer indicated September was still a possibility for a rate hike, although dependent on upcoming economic data. The kiwi traded at 72.26 US cents at 8 am in Wellington from 73.26 cents in New York on Friday before Fischer and his boss, Fed chairwoman Janet Yellen spoke. The trade-weighted index fell to 76.94 from 77.54. Yellen's speech at the Jackson Hole central bankers retreat was the most anticipated event of...

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