NZ dollar dips below 73 US cts as RBNZ sticks to rate track view

Tue, 23 Aug 2016

By Paul McBeth Aug. 24 (BusinessDesk) - The New Zealand dollar gave up some of its gains, dipping below 73 US cents, after Reserve Bank governor Graeme Wheeler backed his interest rate path as erring on the side of caution. The kiwi slipped to 72.91 US cents from 73.16 cents yesterday, still up from 72.68 cents before Wheeler's speech. The trade-weighted index was little changed at 77.24 from 77.38, still above the RBNZ's projection for the TWI to average 76 this quarter. The local currency rose as high as 73.44 US cents after the Re...

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