NZ dollar hits 3-week low vs. euro as ECB's Draghi signals end to rate cuts

Thu, 10 Mar 2016

By Tina Morrison March 11 (BusinessDesk) - The New Zealand dollar hit a three-week low against the euro in volatile trading after European Central Bank president Mario Draghi signalled he won't cut interest rates further. The kiwi touched 59.31 euro cents, and was trading at 59.59 cents at 8am in Wellington, from 60.43 cents yesterday. The local currency advanced to 66.76 US cents from 66.32 cents. The European common currency initially rose after the ECB detailed a series of measures to stimulate the region, cutting three key interest...

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