NZ dollar gains as prospects of rate cut next week dissipate, greenback weakens

Thu, 02 Jun 2016

By Jonathan Underhill June 2 (BusinessDesk) - The New Zealand dollar rose on speculation the Reserve Bank will refrain from cutting interest rates next week and may even leave the market with the sense that the easing cycle has ended, given the domestic economy is in reasonable heart. The kiwi rose to 68.18 US cents as at 5pm in Wellington, from 67.84 cents late yesterday. The trade-weighted index rose to 73.47 from 73.21 yesterday. Diminishing expectations of an RBNZ rate cut are coinciding with a slightly weaker US dollar after a str...

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