NZ dollar recovers as market positions for Fed rate cut

Mon, 08 Jul 2019

By Rebecca Howard July 8 (BusinessDesk) - The New Zealand dollar recovered some of its losses, with markets still expecting a rate cut from the US Federal Reserve this month despite strong jobs growth there. The kiwi was trading at 66.40 US cents at 5pm from 66.20 US cents at 7:50 am. The trade-weighed-index was at 72.71 versus 72.53. The kiwi tumbled late Friday when US non-farm payroll employment increased by 224,000 in June versus an expected 165,000. However, while the data meant that investors are no longer expecting a 50-basis po...

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