NZ dollar heads for 2.1% weekly decline after RBNZ shifts bias to neutral

Fri, 30 Jan 2015

By Tina Morrison Jan. 30 (BusinessDesk) - The New Zealand dollar is headed for a 2.1 percent weekly decline against the US dollar, having hit a four-year low after the Reserve Bank yesterday removed its bias for higher interest rates, saying the benchmark rate could go up or down. The kiwi was at 72.80 US cents at 5pm in Wellington, having touched a low of 72.28 cents this morning, and from 74.36 cents at 8am on Monday. The trade-weighted index declined to 75.54 from 76.92 at the start of the week. The New Zealand dollar tumbled this w...

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