NZ dollar holds at lower levels after McDermott takes rate hikes off the table

Thu, 23 Apr 2015

By Tina Morrison April 24 (BusinessDesk) - The New Zealand dollar held at lower levels after its sudden decline yesterday following Reserve Bank assistant governor John McDermott's comments ruling out interest rate rises. The kiwi was at 75.90 US cents at 8am in Wellington, from 75.81 cents at 5pm yesterday and 76.23 cents before McDermott's comments in a speech yesterday. The trade-weighted index, the broader measure of the currency favoured by the Reserve Bank, was at 79.05 from 79.14 yesterday, retreating from a nine-month high of 80.5...

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