NZ dollar heads for 1% weekly drop as rate cuts weighed, US jobs data looms

Fri, 08 May 2015

By Paul McBeth May 8 (BusinessDesk) - The New Zealand dollar is heading for a 1 percent decline against the greenback after an interest rate cut across the Tasman and weaker local employment data put the Reserve Bank's easing bias under greater scrutiny, and as US jobs data looms. The kiwi fell to 74.56 US cents at 5pm in Wellington from 75.34 cents on Friday in New York last week. It traded at 74.23 cents at 8am and 74.99 cents yesterday. The trade-weighted index declined to 77.08 from 77.28 yesterday, and is heading for a 1.6 percent we...

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