NZ dollar eases after short-lived technical rally

Wed, 25 Sep 2019

By Jenny Ruth Sept. 25 (BusinessDesk) - The New Zealand dollar was slightly weaker against the US dollar despite spiking on less-dovish-than-expected commentary when the Reserve Bank's monetary policy committee held the official cash rate steady. The kiwi was trading at 63.22 US cents at 5pm in Wellington, down from the day's high at 63.48 cents and from 63.27 cents at 8am. The trade-weighted index was at 70.44 from 70.39. The short-lived mid-afternoon rally "was predominantly due to the unwinding of pricing for a cut," says Mike Shirl...

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