The Australian dollar is outshining the kiwi

The NZ dollar has shed 2% over the past month. (Image: Getty)

Wed, 10 Jul 2024

The Australian dollar could outshine the kiwi if the Reserve Bank of New Zealand turns move dovish today. The NZ dollar was trading at 90.83 Australian cents late Tuesday in Wellington. It has shed 2% over the past month and is down from a 2024 peak of around 94.50 in February. Recently, the kiwi has lost some of its allure amid growing speculation that the Reserve Bank of NZ (RBNZ) will be cutting sooner than it has forecast. The official cash rate (OCR) is currently 5.5%, and the RBNZ’s forecasts indicate the first cut will oc...

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