NZ dollar holds near bottom of range as rate cut eyed; Fed speakers loom

Thu, 21 May 2015

By Paul McBeth May 21 (BusinessDesk) - The New Zealand dollar held near the bottom end of its recent trading range as investors weighed up whether the Reserve Bank will cut interest rates to further stimulate a slowing economy. The kiwi traded at 73.33 US cents at 5pm in Wellington from 73.15 cents at 8am and down from 73.60 cents yesterday. The trade-weighted index fell to 75.93 from 76.20 yesterday. Traders have priced in 48 basis points of cuts to the 3.5 percent official cash rate over the coming 12 months, according to the Overnig...

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