NZ dollar holds its gains; focus shifts to Fed after RBNZ keeps rates on hold

Thu, 08 Nov 2018

By Rebecca Howard Nov. 8 (BusinessDesk) - The New Zealand dollar held its gains against the greenback after the central bank kept rates on hold but pared back its language around a possible rate cut. The kiwi traded at 67.87 US cents at 5 pm in Wellington from 67.90 cents at 8:30 am and 66.39 cents late yesterday. The trade-weighted index was at 73.87 from 73.67. Reserve Bank governor Adrian Orr kept the official cash rate at 1.75 percent as widely expected. He said the central bank still expects to keep it at this level into 2020, de...

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