Kiwi Swoons After RBNZ Holds Rates; Dollar Steady Ahead of Fed Decision
The New Zealand dollar plunged after the Reserve Bank of New Zealand unexpectedly kept rates on hold. The U.S. dollar held onto gains after reaching a two-week high ahead of central-bank policy decisions, including the Federal Reserve’s.
By Gregor Stuart HunterThe US dollar held onto gains on Wednesday after rallying to a two-week high ahead of policy decisions from central banks including the Federal Reserve, though the kiwi dollar plunged after the country's central bank unexpectedly kept rates on hold.Most of the dollar's peers…