NZ dollar continues declines as Reserve Bank seen cutting interest rates

Mon, 11 May 2015

By Tina Morrison May 12 (BusinessDesk) - The New Zealand dollar continued its decline overnight, falling to an eight-week low, as speculation grows that the Reserve Bank could start cutting interest rates as early as next month. The kiwi touched 73.30 US cents, and was trading at 73.38 cents at 8am in Wellington, from 73.83 cents at 5pm yesterday. The trade-weighted index dropped to 76 from 76.45 yesterday. The New Zealand dollar slid as expectations grew that weak inflation, an elevated local currency and falling dairy prices would pr...

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