NZ dollar declines as weak Australian inflation outlook stokes rate cut bets

Sun, 08 May 2016

By Tina Morrison May 9 (BusinessDesk) - The New Zealand dollar declined after a weaker outlook for Australian inflation added to speculation that both in both Australasian countries are set to cut interest rates again, denting demand for their currencies. The kiwi slid to 68.14 US cents at 8am in Wellington, from 68.36 cents at the New York close and 68.54 cents on Friday, while the Aussie sank to 73.54 US cents from 73.89 cents on Friday. The trade-weighted index softened to 72.66 from 72.91 on Friday. The Antipodean currencies have f...

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