NZ dollar gains after RBA says June rate cut 'finely balanced', Fed meeting looms

Tue, 19 Jun 2012

By Paul McBeth June 19 (BusinessDesk) - The New Zealand dollar rose after minutes from the Reserve Bank of Australia's last policy review showed its decision to cut rates was "finely balanced" and ahead of the Federal Reserve's meeting later this week. The kiwi rose to 79.31 US cents at 5pm from 79.20 cents just before 8am and 79.29 cents yesterday. The trade weighted index increased to 71.63 from 71.47. The RBA's decision to cut a quarter-point from the target cash rate to 3.5 percent this month was a "finely balanced" one, and helped limi...

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