NZ dollar falls vs. Australian dollar after RBA makes opportune rate cut

Tue, 05 May 2015

By Paul McBeth May 5 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after the Reserve Bank of Australia opportunistically cut interest rates, which traders interpreted as meaning there was a high hurdle for future easing. The kiwi fell to 95.45 Australian cents at 5pm in Wellington from 96.07 cents immediately before the announcement, and 96.15 cents yesterday. It increased to 75.44 US cents from 75.25 cents yesterday. The RBA cut its cash rate a quarter-point to a record-low 2 percent, after "the boa...

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