NZ dollar headed for 0.6% weekly gain; Tuesday's CPI in focus

Fri, 12 Jul 2019

By Rebecca Howard July 12 (BusinessDesk) - The New Zealand dollar is headed for a 0.8 percent weekly gain with investors expecting a rate cut in the US at the end of this month but wary ahead of domestic inflation data next week. The kiwi was trading at 66.82 US cents at 5pm in Wellington from 66.66 cents at 8am and 66.27 cents last Friday in New York. The trade-weighted index was at 73.06 from 72.91 this morning. Comments by Federal Reserve Chair Jerome Powell this week coupled with minutes from the latest June meeting weighed on the...

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