NZ dollar hovers near 4-yr low after IMF says downside risks have increased

Sun, 22 Sep 2019

By Rebecca Howard Sept. 23 (BusinessDesk) - The New Zealand dollar hit a four-year low after the International Monetary Fund said downside risks to the domestic growth outlook have increased. The kiwi was trading at 62.58 US cents at 7:45 am in Wellington versus 62.56 cents late Friday in New York. It touched a low of 62.50 cents, the lowest since September 2015. The trade-weighted index was at 69.64 from 69.63. The IMF said that economic growth is expected to remain close to that of potential output but Kiwibank FX trader Mike Shirley...

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