NZ dollar gains as investors await RBNZ rate decision

Tue, 09 Aug 2016

By Paul McBeth Aug. 10 (BusinessDesk) - The New Zealand dollar gained as investors eye tomorrow's Reserve Bank policy review which is expected to see governor Graeme Wheeler cut interest rates and indicate more to come. The kiwi rose to 71.55 US cents at 8am in Wellington from 71.29 cents yesterday. The trade-weighted index advanced to 75.97 from 75.82. The Reserve Bank has indicated it will have to lower the official cash rate from its current 2.25 percent level in a bid to deter investors from buying the kiwi, which has stayed high...

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