NZ dollar headed for 1.6% weekly slide; speculation mounts on central bank cut rates

Fri, 26 Jul 2019

By Jenny Ruth July 26 (BusinessDesk) - The New Zealand dollar looks set to end the week more than a US cent lower amid speculation as to which central bank will cut first and by how much. The kiwi was trading at 66.53 US cents at 5pm in Wellington from 66.57 cents at 8am and 67.61 cents in New York last Friday. The trade-weighted index was at 73.05 points from 73.08. On Thursday, the European Central Bank signalled a rate cut in September while the Federal Reserve is expected to cut its key Fed funds rate by 25 basis points next week; ...

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