NZ dollar falls after US Federal Reserve cuts rates

Wed, 31 Jul 2019

By Rebecca Howard Aug. 1 (BusinessDesk) - The New Zealand dollar fell after the US Federal Reserve cut rates by 25 basis points, as expected, for the first time in a decade, upping the ante on the Reserve Bank to cut rates next week. The Kiwi was trading at 65.62 US cents at 7:45 versus 65.97 US cents at 5pm in Wellington. The trade-weighted index fell to 72.43 points from 72.56. "In light of the implications of global developments for the economic outlook, as well as muted inflation pressures, the committee decided to lower the tar...

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