NZ dollar heads for 1.7% weekly decline after RBNZ rules out rate rises

Fri, 24 Apr 2015

By Tina Morrison April 24 (BusinessDesk) - The New Zealand dollar is heading for a 1.7 percent decline this week after Reserve Bank assistant governor John McDermott ruled out interest rate hikes ahead of the central bank's official cash rate review next week. The kiwi fell to 75.63 US cents at 5pm in Wellington, from 76.94 cents at 8am on Monday. At the start of the week, five currency advisers in a BusinessDesk survey said the kiwi could fall, five said it could gain and three said it would likely remain largely unchanged. The trade-...

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