Kiwi 'in a dark place', headed for 1.9% weekly fall after RBNZ's dovish lurch

Fri, 10 Aug 2018

By Rebecca Howard Aug. 10 (BusinessDesk) - The New Zealand dollar is headed for a 1.9 percent weekly fall against the greenback after the local central bank Thursday surprised markets by pushing out a projected rate hike for another year and saying a cut was still possible. The kiwi traded at 66.10 US cents at 5pm versus 66.13 cents at 8am in Wellington and 66.73 cents yesterday. It traded at 67.41 cents last Friday in New York. The trade-weighted index was at 71.43 from 71.80 yesterday. The kiwi dropped to its weakest since March 20...

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