NZ dollar bounces from five-year low as deteriorating economy, Greece stoke volatility

Wed, 01 Jul 2015

By Paul McBeth July 1 (BusinessDesk) - The New Zealand dollar rose from a five-year low after Greece missed its debt repayment deadline, while a deteriorating local economic outlook stokes expectations for steeper interest rate cuts. The kiwi rose to 67.94 US cents at 5pm in Wellington from 67.73 cents at 8am, and little changed from 68.06 cents yesterday. The trade-weighted index fell to 71 from 71.19. Greece fell into arrears after missing a 1.6 billion euro repayment to the International Monetary Fund, and can only receive funding...

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