The New Zealand dollar pushed higher against the greenback after the Federal Reserve pledged to hold United States rates at record lows at the same time as it sounded a more confident note about the US economy.Ahead of the Reserve Bank's announcement at 9
The New Zealand dollar pushed higher against the greenback after the Federal Reserve pledged to hold United States rates at record lows at the same time as it sounded a more confident note about the US economy.
Ahead of the Reserve Bank's announcement at 9am today about this country's rates, the kiwi strengthened mildly through the night before receiving a boost from the US rate news.
Around 7.30am the kiwi was buying US72.03c up from US71.44c at 5pm yesterday.
The NZ dollar was also up to 0.5456 euro at 7.30am from 0.5413 at the local close, and up to 67.85 yen from 66.51 yen at 5pm.
Against the Australian dollar, the kiwi was up to A77.88c at 8am from A77.55c at 5pm. The trade weighted index rose from 66.79 at the local close to 67.37 at 7.30am.
The euro gained against the US dollar after the Fed left its benchmark interest rate in the zero to 0.25 percent range and repeated it will remain low for an extended period. Before that announcement the euro had touched a one-year low against the US dollar overnight after Standard&Poor's downgraded Spain's credit rating, snapping earlier bursts of optimism that had put the single currency in see-saw trade.
In this country the Reserve Bank is expected to leave the official cash rate unchanged at a record low 2.5 percent
