WELLINGTON: The New Zealand dollar fell from a three-week high reached in New York trading after US Federal Reserve officials said they expected to raise interest rates this year.
The kiwi traded at 63.95 US cents as at 8am, having reached as high as 64.55 cents in New York, from 63.93 cents at the close of trading last week. The trade-weighted index was little changed at 68.91 from 69.03.
John Williams, president of the Federal Reserve Bank of San Francisco told media that the decision not to raise interest rates last week was “a close call” and he expected the Fed to gradually start raising rates most likely this year.
