NZ dollar heads for 1.1% weekly decline as investors bet on dovish RBNZ

Fri, 04 Aug 2017

By Rebecca Howard Aug. 4 (BusinessDesk) - The New Zealand dollar is headed for a 1.1 percent weekly decline as investors increasingly expect the central bank to dial back its forecasts to show interest rates on hold for even longer at next week's policy review. The kiwi was trading at 74.28 US cents at 5pm versus 74.39 US cents at 8am and from 73.99 cents yesterday. It reached 75.23 in New York trading a week ago. The trade-weighted index was at 78.04 from 77.86 yesterday. "Ahead of the RBNZ next week, it is going to be a little bit...

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