Kiwi remains on backfoot after dovish surprise from RBNZ

Wed, 27 Mar 2019

By Rebecca Howard March 28 (BusinessDesk) - The New Zealand dollar remained under pressure after the central bank unexpectedly said its next rate move was likely to be a cut, dropping its neutral stance. The kiwi traded at 68.04 US cents at 8am from 68.01 US cents at 5pm in Wellington. The trade-weighted index was at 73.83 from 73.72. The central bank kept rates on hold at 1.75 percent yesterday but the New Zealand dollar fell more than a cent when it said the next move was likely to be down. "Kiwi remains on the back foot. The RB...

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