NZ dollar falls with Aussie after Westpac's RBA rate cut call

NZ dollar falls with Aussie after Westpac's RBA rate cut call
Jenny Ruth
By Jenny Ruth May 24 (BusinessDesk) - The New Zealand dollar fell in unison with its Australian counterpart against the greenback after Westpac forecast the Reserve Bank of Australia will cut interest rates three times this year. The kiwi was trading at 65.16 US cents at 5pm in Wellington, after falling as low as 65.10 on the Westpac call, from 65.20 at 7:45am. The trade-weighted index eased to 71.96 points from 71.97. “The June cut remains almost certain; a second in August is our expectation and the November cut should also proceed,”...

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