NZ dollar heads for 0.9% weekly decline as soft growth adds to prospects of rate cut

Fri, 19 Jun 2015

By Paul McBeth June 19 (BusinessDesk) - The New Zealand dollar is heading for a 0.9 percent weekly decline against the greenback after slower than expected economic growth spurred speculation the Reserve Bank will cut interest rates more aggressively. The kiwi fell to 69.21 US cents at 5pm in Wellington from 69.81 US cents on Friday in New York last week. It traded at 69.32 cents at 8am and 68.94 cents yesterday. The trade-weighted index increased to 71.94 from 71.77 yesterday and is heading for a 1.6 percent weekly drop. A BusinessDes...

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