NZ dollar unwinds inflation jump as Fed's Kaplan sticks to rate hike view

Thu, 20 Apr 2017

By Paul McBeth April 21 (BusinessDesk) - The New Zealand dollar unwound most of yesterday's gain from faster-than-expected inflation as Dallas Federal Reserve president Robert Kaplan affirmed his view that the world's biggest central bank will lift rates another two times this year, stoking demand for the greenback. The kiwi fell to 70.12 US cents as at 8am in Wellington from 70.37 cents yesterday. The trade-weighted index declined to 76.17 from 76.47 yesterday. The local currency jumped about a third of a US cent yesterday after loc...

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