NZ dollar extends decline as RBNZ documents fuel rate-cut talk, greenback in ascendancy

Tue, 23 Jun 2015

By Paul McBeth June 23 (BusinessDesk) - The New Zealand dollar extended its decline in local trading as investors continue to rally behind the greenback, and as Reserve Bank documents show the central bank has been overestimating inflation for the past five years. The kiwi fell to a five-year low 68.47 US cents at 5pm in Wellington from 68.63 cents at 8am and 69.14 cents yesterday. The trade-weighted index dropped to 71.46 from 71.79 yesterday. The greenback has been rallying as upbeat data in the world's biggest economy stokes expec...

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