MARKET OPEN: Kiwi pressured by possible rate cut in Australia

Thu, 24 Sep 2020

The kiwi dollar is under pressure on increasing expectations that not only will the Reserve Bank cut rates, but Australia’s central bank is gearing up to do the same.The kiwi was trading at 65.46 US cents at 8am versus 66.11 cents at 5pm yesterday. It was one of the worst-performing currencies overnight. “We will largely pin the blame on weaker risk sentiment and a soft Australian dollar, which has dragged the NZ dollar down with it, rather than any reaction to yesterday’s RBNZ monetary policy review,” BNZ senior ma...

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