NZ dollar drops to three-week low as traders eye RBNZ

Mon, 09 Mar 2015

By Paul McBeth March 9 (BusinessDesk) - The New Zealand dollar fell to a new three-week low as traders questioned whether the Reserve Bank's steps to lean on lending to speculative property investors will warrant a harder stance when the bank reviews interest rates on Thursday. The kiwi fell as low as 73.24 US cents, trading at 73.31 cents at 5pm in Wellington from 73.60 cents on Friday in New York. the trade-weighted index dropped to 77.02 from 77.92 last week. The local currency dropped 20 basis points after Prime Minister John Key s...

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