NZ dollar weakens as Fed's Yellen less dovish than expected at Jackson Hole

Sun, 24 Aug 2014

By Tina Morrison Aug. 25 (BusinessDesk) - The New Zealand dollar weakened on US dollar strength after Federal Reserve chair Janet Yellen was less dovish than expected in her speech to an annual gathering of world central bankers at Jackson Hole, Wyoming. The kiwi slipped to 83.86 US cents at 8am in Wellington, from 84.07 cents at the New York close and 84.10 cents at 5pm in Wellington on Friday. The trade-weighted index was at 79.23 from 79.18 on Friday. Yellen, one of the Fed policy makers considered less upbeat about the US economy,...

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