NZ dollar stalled as Aussie rate outlook offsets improved business sentiment

Tue, 17 Dec 2019

The New Zealand dollar remained trapped in a tight trading range as increasing expectations the Reserve Bank of Australia will cut interest rates in February offset improving business confidence on this side of the Tasman. The kiwi was trading at 66.00 US cents at 5pm in Wellington from 66.01 at 8am while the trade-weighted index was at 72.56 points from 72.51. The RBA said in the minutes from its last meeting on Dec. 3 that although it still thinks the Australian economy has reached "a gentle turning point" it doesn't consider the curren...

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