(Bloomberg) -- New Zealand's dollar fell from a 22
year high after U.S. economic reports unexpectedly showed
stronger growth in the world's biggest economy, boosting the
appeal of the U.S. dollar.
The currency, known as the kiwi, fell as much as 0.9
percent against the dollar on prospects the U.S. economy is
expanding enough to deter the Federal Reserve from cutting
interest rates this year. Growth in U.S. services industries
unexpectedly accelerated to the fastest pace in 14 months in
June, a government report showed yesterday.
Read more at Bloomberg Currencies News
year high after U.S. economic reports unexpectedly showed
stronger growth in the world's biggest economy, boosting the
appeal of the U.S. dollar.
The currency, known as the kiwi, fell as much as 0.9
percent against the dollar on prospects the U.S. economy is
expanding enough to deter the Federal Reserve from cutting
interest rates this year. Growth in U.S. services industries
unexpectedly accelerated to the fastest pace in 14 months in
June, a government report showed yesterday.
Read more at Bloomberg Currencies News
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