NZ dollar falls as traders ponder future interest rate track after yesterday's cut

Thu, 11 Aug 2016

By Paul McBeth Aug. 12 (BusinessDesk) - The New Zealand dollar fell back to where it was before yesterday's interest rate cut on expectations a strong currency will ensure the Reserve Bank remains determined to narrow the country's interest rate advantage over its peers. The kiwi dropped to 72.10 US cents at 8am in Wellington from 72.60 cents at 5pm, trading near the 72.02 cents level it was at immediately before yesterday's rate cut. The trade-weighted index declined to 76.31 from 76.83. The local currency gave up yesterday's gains...

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