
Dollar drops as high yielding currencies sold
Investors are selling currencies such as the kiwi as they unwind so called 'carry trades'.
Investors are selling currencies such as the kiwi as they unwind so called 'carry trades'.
Wall St was down overnight as Fed officials left the door open for an interest rate hike this month.
Last month saw the highest number of new dwellings consented in a month since March 2005.
The USD strengthened after Fed Reserve officials signalled the US central bank is on track for a potential rate hike next month.
The dollar edged up with gains limited by a stronger US dollar buoyed by better economic data.
Asian policy-makers need to understand that currency devaluations aren't a cure-all, writes Bloomberg columnist William Pesek.
Wall St rose overnight, rebounding from one of its worst slumps ever, as investors found value in beaten-down equities.
The dollar rose as traders delayed their expectations for US interest rate hikes, broadly weakening the greenback.
The New Zealand dollar gained as traders pare back bets for the Federal Reserve to hike interest rates next month.
The dollar jumped after US Fed minutes pushed out expectations for a US interest rate hike, damping greenback demand.
Wall St fell overnight after Fed minutes suggested interest rates may not be lifted next month.
The dollar was little changed after dairy product prices jumped as expected at auction overnight.
The NZ dollar rose ahead of tonight's GlobalDairyTrade auction amid expectations whole milk powder prices may gain.
The rebound came as China intervened in the market to stabilise its currency, which had declined sharply.
Wall Street was mixed, recovering from steeper losses, as investors reassessed the impact of China's currency devaluation.
The NZ dollar edged lower in Northern Hemisphere trading as investors weigh the impact of China's currency devaluation.
The NZ dollar fell sharply yesterday after the US dollar spiked higher in response to China's 1.9 per cent devaluation of the yuan.
The kiwi dropped as low as 65.50 US cents, from 66.27 cents at 1pm, and was recently trading at 65.60 cents.
The dollar consolidated overnight as comments from Federal Reserve officials kept expectations intact for a rate hike.
The kiwi may advance this week as traders have already priced in a weaker dairy sector.
The New Zealand dollar rose as high as 66.36 US cents due to volatile trading over the weekend.
The kiwi rose to 42.22 British pence ahead of the Bank of England's policy review on Thursday in London.