NZ dollar finds support at 'Goldilocks' level of 65 US cents

Sun, 19 Jul 2015

By Tina Morrison July 20 (BusinessDesk) - The New Zealand dollar found support around 65 US cents, which Prime Minister John Key has previously referred to as the "Goldilocks" level - neither too high nor too low - following a sharp decline as traders priced in more interest rate cuts following weak dairy prices. The kiwi was trading at 65.15 US cents at 8am in Wellington, from 65.11 cents at the New York close and 65.41 cents at 5pm on Friday. The trade-weighted index edged lower to 69.31 from 69.42 on Friday. The local currency dropp...

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