NZ dollar pares gain as markets prepare for RBNZ to cut rates

Wed, 22 Jul 2015

By Paul McBeth July 22 (BusinessDesk) - The New Zealand dollar pared its gain in local trading as investors prepare for tomorrow's official cash rate review where Reserve Bank governor Graeme Wheeler is expected to lower the benchmark rate. The kiwi traded at 66.17 US cents at 5pm in Wellington from 66.32 cents at 8am, and 65.89 cents yesterday. The trade-weighted index was almost unchanged at 70.20 from 70.21 yesterday. Traders have fully priced in a quarter-point cut to the OCR tomorrow, and see an outside chance Wheeler will cut mor...

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