NZ dollar drops to 10-day low as Brexit stokes uncertainty in financial markets

Sun, 26 Jun 2016

By Paul McBeth June 27 (BusinessDesk) - The New Zealand dollar fell to a 10-day low against the greenback after the British public's vote to quit the European Union caught investors off-guard, stoking uncertainty in financial markets and raising the prospect that local interest rates will have to go lower. The kiwi fell to 70.80 US cents at 8am in Wellington from 71.30 cents on Friday in New York. The trade-weighted index gained to 75.91 from 75.36 last week as investors fled the British pound and euro after UK referendum. The result...

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