NZ dollar drops vs. greenback, gains vs. Aussie after RBA cuts key rate to 2.25%

Tue, 03 Feb 2015

By Jonathan Underhill Feb. 3 (BusinessDesk) - The New Zealand dollar fell to a four-year low against the greenback and gained against the Australian dollar after the Reserve Bank of Australia cuts its key interest rate to a record low 2.25 percent, citing tame inflation and weak domestic demand. The kiwi fell to 72.21 US cents at 5:30pm in Wellington, from 72.63 cents yesterday, tracking the Australian dollar, which dropped to its lowest in almost six years. The kiwi climbed to 94.19 Australian cents from 93.40 cents yesterday. Traders...

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