NZ dollar little changed after Fed rate cut

Thu, 01 Aug 2019

By Jenny Ruth Aug. 1 (BusinessDesk) - The New Zealand dollar was little changed in the wake of the US Federal Reserve’s first interest rate cut in more than a decade and as the market continues to expect a rate cut from our own Reserve Bank next week. The kiwi was trading at 65.57 US cents at 5pm in Wellington, above the day’s low at 65.32 cents, but down from 65.62 this morning. The trade-weighted index was unchanged at 72.43 points. Fed chair Jerome Powell helped create some confusion by saying at first that the rate cut was a “mid-c...

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