NZ dollar extends decline, hitting new 2-yr low, as dovish RBNZ adds to downbeat tone

Thu, 28 Jun 2018

By Paul McBeth June 29 (BusinessDesk) - The New Zealand dollar extended its decline, hitting a new two-year low, as investors started pricing in an outside chance the Reserve Bank may cut interest rates, adding to the negative sentiment for the currency. The kiwi fell as low as 67.44 US cents and traded at 67.52 cents as at 8am in Wellington from 67.80 cents yesterday, having slumped 6.7 percent so far this quarter. The trade-weighted index fell to 72.38 from 72.61, having declined a more modest 2.2 percent this quarter. Reserve Bank g...

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