22 Aug 2014

Dollar lifts ahead of Fed speech

6:46 pm on 22 August 2014

The New Zealand dollar is up about half a US cent from yesterday's level, ahead of a speech by the head of the US Federal Reserve.

Westpac currency strategist Imre Speizer said Janet Yellen was expected to indicate when US interest rates would rise but, if not, the New Zealand currency was likely to bounce higher.

The kiwi was trading this afternoon at 84.10 US cents, at 90.21 Australian cents, 50.71 British pence, 0.6330 euro, 87.25 yen and 5.18 renminbi.

Meanwhile, the sharemarket was a little higher today with the benchmark Top 50 Index gaining 14 points to 5167.

Mint Asset Management portfolio manager Anthony Halls said the release of company results continued to dominate trading.

Shares in Spark fell 5 cents to $2.86, Sky Network Television's shares jumped 21 cents to $6.72 and Vector shares ended unchanged at $2.60.

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