NZ dollar falls as building consents, business confidence disappoint

Mon, 29 Feb 2016

By Paul McBeth Feb. 29 (BusinessDesk) - The New Zealand dollar fell as data painted a grimmer picture of local growth and economists at the country's biggest lender joined rivals in predicting the Reserve Bank will cut interest rates even further this year. The kiwi dropped to 65.72 US cents at 5pm in Wellington from 66.39 cents at 8am and 66.25 cents on Friday in New York. The trade-weighted index declined to 71.82 from 73.43 last week. Risk sensitive currencies such as the kiwi started the local trading session on the back-foot aft...

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