NZ dollar gains as markets second-guess Wheeler's on rate cuts

Wed, 10 Aug 2016

By Paul McBeth Aug. 10 (BusinessDesk) - The New Zealand dollar rose ahead of tomorrow's Reserve Bank monetary policy statement, where governor Graeme Wheeler is expected to cut the official cash rate and signal more will follow. The kiwi rose to 72.13 US cents at 5pm in Wellington from 71.55 cents at 8am and 71.29 cents yesterday. The trade-weighted index advanced to 76.28 from 75.82 yesterday. The Reserve Bank last month signalled intentions to drop the official cash rate as a persistently high kiwi dollar made imports cheaper, maki...

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