NZ dollar treads water ahead of central bank rate-cutting actions

Mon, 29 Jul 2019

By Jenny Ruth July 29 (BusinessDesk) - The New Zealand dollar was treading water, awaiting expected central bank rate-cutting action later this week and next. The kiwi was trading at 66.28 US cents at 5pm in Wellington from 66.30 cents at 7:55am. The trade-weighted index was at 72.92 points from 72.93. The US Federal Reserve is expected to cut interest rates early Thursday, New Zealand time, by at least 25 basis points. It will be the first cut in more than a decade. The cut is despite positive earnings reports from a string of hous...

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