NZ dollar drops vs Aussie as RBA seen as done with rate cuts

Tue, 01 Nov 2016

By Jonathan Underhill Nov. 1 (BusinessDesk) - The New Zealand dollar fell against the Aussie after the market took the view that the Reserve Bank of Australia is done with cutting interest rates for now. The kiwi fell to 93.55 Australian cents from 93.98 cents before the RBA release and from 93.99 cents late yesterday. The kiwi was little changed at 71.50 US cents from 71.51 cents late yesterday. RBA governor Philip Lowe kept the cash rate unchanged at 1.5 percent while citing moderate growth and a "gradual" pick up in inflation. Keep...

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