NZ dollar heads for 1.2% weekly decline as rate cuts considered

Fri, 22 May 2015

By Paul McBeth May 22 (BusinessDesk) - The New Zealand dollar is heading for a 1.2 percent weekly decline this week as investors weigh up whether measures to reign in the country's housing market will free up the Reserve Bank to cut interest rates. The kiwi fell to 73.82 US cents at 5pm in Wellington from 74.72 cents on Friday in New York last week. It traded at 73.28 cents at 8am and 73.34 cents yesterday. The trade-weighted index rose to 76.30 from 75.94 yesterday, and is heading for a 0.4 percent weekly decline. A BusinessDesk surve...

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