NZ Dollar Outlook: Kiwi may advance as RBNZ seen cutting rates less than some traders expect

Mon, 20 Jul 2015

By Tina Morrison July 20 (BusinessDesk) - The New Zealand dollar may advance this week as the Reserve Bank disappoints some traders positioned for an aggressive interest rate cut of 50 basis points by limiting its reduction to a quarter-point. The kiwi may trade between 63.50 US cents and 67.05 cents, according to a BusinessDesk survey of 11 currency advisers. Six expect the kiwi to gain, four bet it will fall and one says it will remain little changed. It recently traded at 65.22 US cents. The local currency dropped sharply last week...

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