Kiwi above 67 US cents as Wheeler quashes talk of big rate cuts

Wed, 29 Jul 2015

July 29 (BusinessDesk) - The New Zealand dollar rose above 67 US cents after Reserve Bank governor Graeme Wheeler said while some easing in monetary policy is likely the economy isn't so weak as to need substantial new stimulus. The kiwi dollar traded at 66.98 US cents as at 5pm in Wellington, having earlier gained to as high as 67.38 cents, from 66.61 cents late yesterday. The trade-weighted index rose to 71.31 from 70.90. Wheeler said the kiwi dollar is too high given a deteriorating outlook for New Zealand's external accounts and he e...

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