NZ dollar hits 15-month high after Wheeler's rate cut disappoints

Thu, 11 Aug 2016

By Paul McBeth Aug. 11 (BusinessDesk) - The New Zealand dollar rose to a 15-month high after the Reserve Bank's quarter-point rate cut disappointed some traders who had been picking an even bigger reduction to the official cash rate. The kiwi rose as high as 73.41 US cents after the policy decision was announced, and was trading at 72.60 cents at 5pm from 72.02 cents immediately before the release and 72.13 cents yesterday. The trade-weighted index climbed to 76.83 from 76.28 yesterday, still above the 76 September quarter average projec...

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