NZ dollar extends gain on reduced chances of rate cut

Wed, 23 Jan 2019

By Gavin Evans Jan. 24 (BusinessDesk) - The New Zealand dollar extended yesterday’s gains on the reduced risk of an early rate cut by the Reserve bank. The kiwi was trading at 67.90 US cents at 8:30am, from 67.66 cents late yesterday. The trade-weighted index climbed to 73.66 from 73.46. The local currency rose yesterday after December quarter inflation data came in at the upper end of expectations. The Consumers Price Index rose 0.1 percent for the quarter with the annual pace holding steady at 1.9 percent. Economists had forecast...

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