
Dollar little changed as Fed keeps US rate view intact
The dollar consolidated overnight as comments from Federal Reserve officials kept expectations intact for a rate hike.
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.
Gold futures have fallen for the second time in three days amid mounting speculation that the US Fed will raise interest rates.
The kiwi dipped below US65c for the first time in six years as better than expected US data revived optimism.
Home values on Auckland's North Shore are up 17.6 per cent year-on-year and a huge 6.2 per cent since May.
The decline occurred ahead of the Reserve Bank of Australia's decision on interest rates today.
Hinds County bucked the trend when it netted US$6.7 million in an interest rates swap deal with a New York derivatives dealer.
Weak data on US employment costs prompted traders to pull back expectations for US interest rate hikes.
New Zealand business confidence fell for a second month, to the most pessimistic in six years, led by the agricultural sector and construction companies.
The dollar fell as the prospect of more easing by the Reserve Bank dented the appeal of the kiwi.
The dollar rose on speculation Wheeler may soften his language about an easing bias, and after stocks rebounded.
The kiwi dollar has risen to a six-and-a-half week high against the Aussie after a slump in Chinese equities markets.
The dollar fell after signs of weaker Chinese manufacturing activity dented demand for commodity currencies.
The New Zealand dollar held onto some of its gain after the Reserve Bank yesterday cut the benchmark interest rate.
Banks reduce mortgage rates on the back of Reserve's announcement - and it's likely the OCR will fall further.
Wheeler struck the right note in this morning's official cash rate announcement: appropriately dovish but not alarmist.
The New Zealand dollar has fallen ahead of the Reserve Bank's expected interest rate cut this morning.
NZIER's monetary policy shadow board favours a cut to the official cash rate of 25 basis points to 3 per cent tomorrow.
The dollar advanced as traders who had bet on the currency's decline took profits ahead of the tomorrow's interest rate decision.