NZ dollar at 2-week high as inflation lowers rate cut expectations

Tue, 16 Oct 2018

By Paul McBeth Oct. 17 (BusinessDesk) - The New Zealand dollar rose to a two-week high as yesterday's stronger than expected inflation data lowered traders' expectations for a rate cut. The kiwi increased to 65.90 US cents as at 8am in Wellington from 65.68 cents yesterday. The trade-weighted index edged up to 71.87 from 71.75. Traders have pared back their bets on the Reserve Bank cutting the official cash rate. The overnight index swaps curve implies an 18 percent chance of a lower rate by August next year, down from 24 percent. Lo...

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