NZ dollar falls as central banks act to combat coronavirus

Mon, 16 Mar 2020

The New Zealand dollar fell against the greenback but gained against the Aussie after a hugely volatile day of being tossed about by unprecedented local and offshore central bank moves aimed at warding off the worst economic impacts of the coronavirus crisis. The domestic currency traded a 2.2 US cent range after the local Reserve Bank slashed its official cash rate by 75 basis points, and then the US Federal Reserve slashed its key rate by a full percent to zero. The kiwi was trading at 60.50 US cents at 5pm in Wellington after sinking a...

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