NZ dollar drifts lower; Fed rate cut, US-China trade war in focus

Wed, 12 Jun 2019

By Jenny Ruth June 12 (BusinessDesk) - The New Zealand dollar drifted lower in the absence of fresh stimulus as the market continues to focus on the prospect of the US Federal Reserve cutting interest rates and the progress of the US-China trade war. The New Zealand dollar was trading at 65.69 US cents at 5:05pm in Wellington from 65.81 at 7:50am. The trade-weighted index was at 72.09 points from 72.19. The kiwi’s weakness was despite the US dollar hovering near 11-week lows amid the Fed rate cut speculation. “The Aussie and the kiw...

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