UPDATE: NZ dollar tumbles after Fed's Yellen indicates rate hikes are coming

Wed, 17 Dec 2014

By Paul McBeth Dec. 18 (BusinessDesk) - The New Zealand dollar tumbled about 1 US cent after US Federal Reserve chair Janet Yellen indicated higher US interest rates are coming, and was more upbeat about the state of the world's biggest economy. The kiwi recently traded at 76.88 US cents, dropping from 77.90 cents before Yellen's press conference after traders initially thought the Federal Open Market Committee implied rates would stay low for a considerable time. The kiwi spiked from 77.24 cents immediately before the Fed statement. Y...

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