NZ dollar falls below 70 US cents for the first time in almost 5 years after RBNZ cut

Thu, 11 Jun 2015

By Tina Morrison June 12 (BusinessDesk) - The New Zealand dollar fell below 70 US cents for the first time in almost five years after the Reserve Bank began cutting interest rates earlier than some had expected yesterday. The kiwi touched 69.65 US cents overnight, the first time it has fallen below 70 cents since Sept. 1, 2010, and was trading at 70.18 cents at 8am in Wellington, from 70.17 cents at 5pm yesterday. The trade-weighted index edged up to 73.21 from 73.12 yesterday and 74.99 immediately before the Reserve Bank's announcement....

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