NZ dollar falls vs. greenback, Aust dollar after wage inflation slows

Wed, 06 May 2015

By Paul McBeth May 6 (BusinessDesk) - The New Zealand dollar fell to a three-week low against the greenback and a three-month low versus its Australian counterpart after local wage growth slowed in the March quarter, raising the prospect of a rate cut by the Reserve Bank. The kiwi fell to 74.80 US cents at 5pm in Wellington from 75.54 cents at 8am and 75.45 cents yesterday. It fell as low as 93.82 Australian cents, and was trading at 93.88 cents at 5pm from 95.45 cents yesterday. Government figures today showed annual wage inflation in...

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