NZ dollar falls to month-low as investors reduce their holdings following RBNZ’s ‘on hold’ decision

Thu, 30 Jan 2014

By Tina Morrison Jan 31 (BusinessDesk) – The New Zealand dollar fell to a month-low as investors who had been holding the currency in anticipation the central bank may have hiked rates yesterday reduced their reserves. The kiwi touched 81.22 US cents this morning, its lowest since Dec. 30. The local currency was trading at 81.41 cents at 8am in Wellington, from 81.78 cents at 5pm yesterday. The trade-weighted index slipped to 77.19 from 77.44 yesterday. New Zealand’s Reserve Bank yesterday kept the benchmark interest rate at an historic low...

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