By Edwin MitsonThe New Zealand dollar fell to a five-month low against the US dollar as the greenback continues to surge on expectations of higher interest rates and inflation in the world's largest economy. The kiwi dollar fell to 69.80 cents at 5pm in Wellington from 70.05 cents at 8am this morning and 70.62 US cents at the same time yesterday. The New Zealand dollar has now fallen 5.5 percent since Nov 8, when Donald Trump won the US Presidential election. The kiwi also fell sharply against the Australian dollar, falling to 94.59 Australian cents from 95.16 cents a day ago. The two-year swap rate rose 3 basis points to 2.24 percent, while the ten-year swap rate rose six basis points to 3.28 percent.

Source: New Zealand Herald November 24, 2016 04:18 UTC