Business

NZD jumps as Fed chair Powell signals pause to rate hikes

The New Zealand dollar jumped three-quarters of a US cent after Federal Reserve chair Jerome Powell was seen as signalling a pause in interest rate hikes that have buoyed the greenback this year. 

The kiwi climbed to 68.77 US cents as at 8am in Wellington from 67.94 cents yesterday. The trade-weighted index rose to 74.79 from 74.37 yesterday. 

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