NZ dollar gains from 11-month low as RBNZ projects flat interest rate track

Thu, 11 May 2017

By Paul McBeth May 12 (BusinessDesk) - The New Zealand dollar rose from an 11-month low in the wake of yesterday's monetary policy review where the Reserve Bank kept its projection for interest rates to be unchanged until late 2019. The kiwi rose to 68.55 cents as at 8am in Wellington from as low as 68.19 cents overnight and from 68.34 cents late yesterday. The trade-weighted index was at 74.84 from 74.74 yesterday, below the RBNZ's latest projected average for the TWI in the June quarter of 76. Reserve Bank governor Graeme Wheeler y...

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