NZ dollar falls as weak inflation weighs on rate expectations; greenback still under pressure

Thu, 25 Jan 2018

By Rebecca Howard Jan. 25 (BusinessDesk) - The New Zealand dollar fell as weaker-than-expected inflation figures dashed expectations the Reserve Bank might have raised interest this year, although the greenback remained out of favour over US Treasury Secretary Steven Mnuchin's jawboning. The kiwi traded at 73.82 US cents as at 5pm in Wellington, down from 74.28 US cents at 8am, although still up from 73.60 cents yesterday. The trade-weighted index dropped to 75.02 from 75.43 yesterday. The local currency tumbled after government data...

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