NZ dollar falls to 3-week low as RBNZ seen as laggard in rate hike plans

Mon, 07 Aug 2017

By Jonathan Underhill Aug. 8 (BusinessDesk) - The New Zealand dollar fell to a three-week low as traders took yesterday's weaker inflation reading from the Reserve Bank's survey of expectations as evidence the bank will lag behind its global peers in hiking interest rates, reducing the kiwi's appeal. The kiwi dollar traded at 73.54 US cents as at 8am in Wellington from 73.99 cents late yesterday. The trade-weighted index fell to 77.56 from 77.93. The New Zealand dollar has fallen 2.7 percent from its recent high on July 27, when it tou...

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