NZ dollar under pressure ahead of widely expected rate cut

Tue, 06 Aug 2019

By Rebecca Howard Aug. 7 (BusinessDesk) - The New Zealand dollar remained under pressure after a soft dairy auction and ahead of the central bank’s rate decision. The kiwi was trading at 65.28 US cents at 7:55 am in Wellington versus 65.29 cents at 5pm. The trade-weighted index was at 72.53 points from 72.54. The New Zealand central bank is widely expected to cut rates by 25 basis points to a record low 1.25 percent as the global situation deteriorates and other central banks, like the US Federal Reserve, move to ease policy. Weaker...

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