NZ dollar jumps a cent as Reserve Bank rate outlook wrong-foots traders

Wed, 13 Feb 2019

By Paul McBeth Feb. 13 (BusinessDesk) - The New Zealand dollar jumped just over one US cent after the Reserve Bank's bias towards eventually hiking interest rates - rather than cutting them - wrong-footed traders who were more wary about global risks. The kiwi rose to 68.44 US cents as at 5pm in Wellington, from 67.35 cents immediately before the statement and up from 67.29 cents yesterday. The trade-weighted index was at 74.16 from 73.21. Traders had been increasing their bets on a rate cut this year, with ANZ Bank New Zealand econo...

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