Kiwi dollar unwinds RBNZ rally

Wed, 02 Jun 2021

The New Zealand dollar dropped a fifth of a cent today as investors walked back a break above 73 US cents after the Reserve Bank of New Zealand’s policy statement last week. The kiwi dollar was trading at 72.63 US cents at 3pm in Wellington, down from 72.85 cents yesterday.Fitch Solutions expects the kiwi to average 74.34 US cents for the remainder of the year as monetary policy in NZ is seen tightening earlier than in the United States, which will put upwards pressure on the kiwi as investors follow higher interest rates. BNZ B...

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