NZ dollar stalled amid uncertainty about US rate cuts

Wed, 17 Jul 2019

By Jenny Ruth July 17 (BusinessDesk) - The New Zealand dollar was little changed as global currency markets tread water after surprisingly strong US retail trade data cast doubt on how much appetite the Federal Reserve will have to cut interest rates. The kiwi was trading at 67.11 US cents at 5:05pm in Wellington from 67.01 at 8am – well down from 67.32 at 5pm yesterday. The trade-weighted index was at 73.44 points from 73.30. “It’s a bit like watching paint dry,” says Derek Rankin, the principal at Rankin Treasury Advisory, adding tha...

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