The New Zealand dollar is headed to a 1.4 per cent weekly gain after some market participants pared back their expectations for US interest rate increases next year after the Federal Reserve sounded a note of caution this week on low inflation. The kiwi traded at 68.75 US cents as at 5pm in Wellington from 68.76 cents late yesterday and 67.79 cents a week ago. The trade-weighted index was at 72.49 from 72.53 late yesterday. The kiwi benefited after minutes from the US Federal Reserve's latest meeting coupled with comments from Fed Chair Janet Yellen on persistently low inflation knocked the US dollar back this week. ... (full story)