NZ dollar falls from 12-month high as rate cut bets re-emerge, greenback gains

Fri, 10 Jun 2016

By Jonathan Underhill June 10 (BusinessDesk) - The New Zealand dollar fell from a 12-month high as more traders bet there's still a chance of an interest rate cut by the Reserve Bank in August and the greenback strengthened. The kiwi fell to 70.85 US cents as at 5pm in Wellington, from 71.37 cents late yesterday, having reached as high as 71.46 cents overnight on speculation the Reserve Bank may be done cutting interest rates for now. The trade-weighted index fell to 75.56 from 75.74 yesterday. The New Zealand dollar is still heading f...

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