NZ dollar steady as investors shrug off US CPI data

Thu, 11 Jul 2019

By Rebecca Howard July 12 (BusinessDesk) - The New Zealand dollar held its gains on expectations stronger-than-expected US inflation data won't prevent a rate cut there later this month. The kiwi was trading at 66.66 US cents at 8am in Wellington from 66.67 US cents at 5pm. The trade-weighted index was at 72.91 from 72.85. The US consumer price index - excluding the volatile food and energy components - rose 0.3 percent in June, versus an expected 0.2 percent. Annual core inflation was 2.1 percent. While the data pointed to some si...

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