NZ dollar hits 2-week low after weak inflation outlook, decline in GDT auction

Tue, 16 Feb 2016

By Tina Morrison Feb. 17 (BusinessDesk) - The New Zealand dollar fell to a two-week low as a weak outlook for inflation and low dairy prices stoked speculation of further interest rate cuts. The kiwi touched 65.43 US cents, and was trading at 65.57 cents at 8am in Wellington, from 65.98 cents at 5pm yesterday. The trade-weighted index fell to 71.41 from 71.66 yesterday. The New Zealand dollar dropped sharply yesterday afternoon following the release of a Reserve Bank survey which showed firms' inflation expectations sank to the lowest...

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