NZ dollar heads for 0.8% weekly decline after RBNZ affirms rates to stay low

Fri, 11 May 2018

By Rebecca Howard May 11 (BusinessDesk) - The New Zealand dollar is heading for a 0.8 percent weekly decline against the greenback after the Reserve Bank said interest rates will remain on hold but did pare some of those losses on soft US inflation data. The kiwi traded at 69.60 as at 5pm in Wellington from 69.12 cents late yesterday and down from 70.18 cents last Friday in New York. The trade-weighted index was at 72.72 from 72.44 late yesterday. The kiwi, which was already under pressure from a stronger greenback, fell to a five-m...

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