NZ dollar falls back below 70 US cts after weak growth spurs rate cut calls

Thu, 18 Jun 2015

By Paul McBeth June 18 (BusinessDesk) - The New Zealand dollar fell back below 70 US cents in local trading after weaker-than-expected economic growth in the first three months of the year spurred speculation that the Reserve Bank will cut interest rates more aggressively. The kiwi fell to 68.90 US cents at 5pm from 69.94 cents at 8am and 69.66 cents yesterday. It spiked above 70 cents after the US Federal Reserve lowered its estimate for global growth, prompting some investors to question whether the world's biggest central bank will rai...

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