NZ dollar falls as traders mull prospects of deeper OCR cut, 2-year swaps fall below 2%

Thu, 04 Aug 2016

By Jonathan Underhill Aug. 4 (BusinessDesk) - The New Zealand dollar fell and the two-year swap rate dropped below 2 percent for the first time as traders pondered the prospects of a deeper cut to the official cash rate next week. The kiwi dollar traded at 71.69 US cents as at 5pm in Wellington, having earlier sunk as low as 71.35 cents, from 72 cents late yesterday. The trade-weighted index was at 76.05, having touched 75.82 earlier, from 76.46 yesterday. The two-year swap rate has fallen some 80 basis points this year and briefly fe...

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