NZ dollar drops vs. Australian dollar on lack of RBA rate cut

Tue, 07 Jun 2016

By Jonathan Underhill June 7 (BusinessDesk) - The New Zealand dollar fell against the Australian dollar after the Reserve Bank of Australia kept its cash rate unchanged, disappointing traders who had bet on a more dovish central bank. The kiwi dollar fell to 93.32 Australian cents as at 5pm in Wellington from 93.74 cents immediately before the RBA statement and from 94.38 cents late yesterday. The local dollar slipped to 69.25 US cents from as high as 69.67 US cents yesterday, having surged from 68.28 cents on Friday, after a weaker-than-...

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