NZ dollar falls as investors mull lower rates after Canadian cut; ECB looms

Thu, 22 Jan 2015

By Paul McBeth Jan. 22 (BusinessDesk) - The New Zealand dollar dropped to a two-and-a-half year low as investors speculate the central bank may have to lower interest rates after the Bank of Canada surprised markets with a rate cut yesterday, and ahead of Europe's anticipated money printing programme. The kiwi fell as low as 75.18 US cents, the lowest level since June 2012, and was trading at 75.25 cents at 5pm in Wellington from 75.66 cents at 8am and 76.58 cents yesterday. The trade-weighted index dropped to 77.08 from 78.15 yesterday....

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