NZ dollar jumps almost one US cent following Fed hike

The S&P/NZX 50 index rose 61.2 points, or 0.5%, to 12,152.16. Across the main board, 56 stocks fell and 78 rose. Turnover was $158.4 million.

Devon Funds' head of retail, Greg Smith, said both NZ’s currency and the domestic market had responded well to the Fed’s announcement, with the market finishing the day up 0.5% and the kiwi dollar up by almost a cent.

The NZ dollar was at 65.27 US cents at 3pm in Wellington, from 64.33 US cents at the same time yesterday.

Smith said the Fed’s “hawkish words, but dovish actions” had taken some of the wind out of the US dollar which had helped the NZ dollar pick up today.