NZ dollar heads for 0.7% weekly decline as RBNZ's presses rate cut bias

Fri, 14 Oct 2016

By Paul McBeth Oct. 14 (BusinessDesk) - The New Zealand dollar is heading for a 0.7 percent fall against the greenback this week as the Reserve Bank reminded investors it plans to cut interest rates again, while the Federal Reserve is looking more likely to raise rates in the US. The kiwi fell to 71.05 US cents at 5pm in Wellington from 71.58 cents on Friday in New York last week. It was up from 70.57 cents yesterday. The New Zealand currency hit a 10-month low on the diverging rate track between the US and New Zealand in a week wher...

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