NZ dollar declines amid US dollar strength, outlook for lower NZ interest rates

Mon, 18 May 2015

By Tina Morrison May 19 (BusinessDesk) - The New Zealand dollar declined as the greenback strengthened on optimism the US economy will rebound after a weak first quarter, and as the kiwi is weighed down by expectations local interest rates will fall. The kiwi slipped to 73.73 US cents at 8am in Wellington, from 74.33 cents at 5pm yesterday. The trade-weighted index dropped to 75.96 from 76.29 yesterday. The US dollar index, which measures the greenback against a basket of currencies, gained after the Federal Reserve Bank of San Francis...

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