NZ dollar falls as traders bet on Reserve Bank interest rate cuts

Thu, 21 Apr 2016

By Tina Morrison April 22 (BusinessDesk) - The New Zealand dollar fell as traders price in the chance that the Reserve Bank may cut interest rates at its meeting next week in an attempt to bolster lacklustre inflation and weaken the currency. The kiwi slid to 69.09 US cents at 8am in Wellington, from 69.73 cents at 5pm yesterday. The trade-weighted index declined to 72.76 from 73.19 yesterday. Traders are pricing in a 46 percent chance that Reserve Bank governor Graeme Wheeler will cut the official cash rate to 2 percent at the April 2...

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