NZ dollar little changed; Powell provides reasons to be dovish

Thu, 10 Jan 2019

By Jenny Ruth Jan. 11 (BusinessDesk) - The New Zealand dollar is treading water after US Federal Reserve chair Jerome Powell outlined the concerns which are making him more cautious about raising interest rates further. The kiwi was trading at 67.80 US cents at 8.40am in Wellington from 67.87 at 5pm on Thursday. The trade-weighted index was at 73.33 points from 73.29. Powell’s speech to the Economic Club of Washington DC “was the main event the market was waiting for” and the Fed chair provided further reasons for turning dovish, says...

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