NZ dollar above US66 cents again on profit-taking before interest rate decision

Tue, 21 Jul 2015

By Tina Morrison July 22 (BusinessDesk) - The New Zealand dollar advanced as traders who had bet on the currency's decline took profits ahead of the Reserve Bank interest rate decision tomorrow. The kiwi rose to 66.32 US cents at 8am in Wellington, from 65.89 cents at 5pm yesterday. The trade-weighted index gained to 70.37 from 70.21 yesterday. The Reserve Bank is expected to cut the official cash rate by 25 basis points tomorrow, with some saying there is an outside chance of a 50 basis point cut. Strong immigration data yesterday may...

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