BUSINESS BREAKDOWN: Kiwi slides below 70 US cents

Thu, 11 Jun 2015

June 12 (BusinessDesk) - The kiwi dollar is being pummelled after the Reserve Bank yesterday started pushing interest rates down. With financial markets divided over the likelihood of yesterday's rate cut, the kiwi immediately tumbled almost 2 US cents following the decision. While the local currency mostly consolidated against its major peers overnight to end the morning at similar levels to last evening, it did push through the key 70 US cents level just after midnight to touch 69.65 cents, the first time it's traded in the 60s since it...

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