NZ dollar drops to 15-month low vs Canadian dollar on rate hike, falls vs greenback

Wed, 06 Sep 2017

By Jonathan Underhill Sept. 7 (BusinessDesk) - The New Zealand dollar dropped to a 15-month low against the Canadian dollar after the Bank of Canada unexpectedly hiked its benchmark rate, and declined against the greenback and the euro. The kiwi fell to 87.90 Canadian cents as at 8am in Wellington, the lowest since May 2016, from 89.57 cents late yesterday. It fell to 71.90 US cents from 72.25 cents yesterday. The Canadian dollar soared, reaching a two-year high against the greenback, after the Bank of Canada raised its overnight lendi...

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