NZ dollar dives after weaker than expected jobs data

Thu, 07 Feb 2019

By Jenny Ruth Feb. 7 (BusinessDesk) - The New Zealand dollar fell an Australian cent and three-quarters of a US cent after weaker than expected employment figures revived the possibility that the Reserve Bank may cut interest rates. The kiwi was trading at 67.54 US cents at 5pm in Wellington from 68.30 at 8am and at 95.02 Australian cents from 96.01. “The jobs data gave the local markets a big ouchie,” says Peter Cavanaugh, the senior client adviser at Bancorp Treasury Services. The unemployment rate came in at 4.3 percent in the De...

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