NZ dollar drops to week-low as lower inflation seen weighing on interest rates

Thu, 23 Oct 2014

By Tina Morrison Oct. 24 (BusinessDesk) - The New Zealand dollar declined to a week-low after data yesterday showed inflation accelerated at a slower than expected pace in the third quarter, suggesting interest rates may stay at current levels for longer. The kiwi fell as low as 78.05 US cents, and was trading at 78.18 cents at 8am in Wellington, from 78.52 cents at 5pm yesterday and 79.09 cents immediately before the inflation data release yesterday morning. The trade-weighted index declined to 76.25 from 76.47 yesterday. New Zealand...

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