NZ dollar falls on commodity weakness ahead of expected RBNZ rate cut

Wed, 22 Jul 2015

By Tina Morrison July 23 (BusinessDesk) - The New Zealand dollar fell along with other commodity currencies ahead of an expected Reserve Bank interest rate cut this morning. The kiwi dropped to 65.82 US cents at 8am in Wellington, from 66.16 cents at 5pm yesterday. The trade-weighted index declined to 69.99 from 70.20 yesterday. Commodity currencies, including the New Zealand, Australian and Canadian dollars, declined as oil prices fell following an unexpected rise in inventories. Reserve Bank governor Graeme Wheeler is expected to cut...

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