NZ dollar falls as GDP data shows slowing pace of growth, reinforcing RBNZ on hold

Thu, 16 Mar 2017

By Jonathan Underhill March 17 (BusinessDesk) - The New Zealand dollar fell as traders took yesterday's weaker-than-expected economic growth figures as further evidence the Reserve Bank won't need to raise interest rates any time soon, which may see the nation's yield premium eroded. The kiwi dollar fell to 69.73 US cents as at 8:30am in Wellington from 69.91 cents late yesterday. The trade-weighed index fell to 75.81 from 76.07. The New Zealand dollar rallied early yesterday after the Federal Reserve raised the fed funds rate as expec...

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