NZ dollar drops to 17-month low, 90-day bank bills hit record low, swap rates fall

Sun, 19 Nov 2017

By Jonathan Underhill Nov. 20 (BusinessDesk) - The New Zealand dollar is trading near its lowest levels in almost 19 months after falling below 69 US cents for the first time since June 2016, while 90-day bank bills fell to a record low and swap rates declined, as sentiment was dented by weaker commodity prices and a central bank disinclined to raise interest rates. The kiwi dollar traded at 68.06 US cents as at 8am in Wellington, having fallen as low as 67.79 cents in New York on Friday, from 68.58 cents in Wellington at the end of last...

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