NZ dollar reaches 3-week high as stronger-than-expected 2Q GDP dents rate cut chances

Thu, 20 Sep 2018

By Rebecca Howard Sept. 20 (BusinessDesk) - The New Zealand dollar hit a three-week high against the greenback after the economy recorded its highest growth in two years, denting the chances of a rate cut. The kiwi traded at 66.44 US cents at 5pm in Wellington from 66.15 US cents at 8am and 65.94 cents yesterday. It touched a three week high of 66.52 cents immediately after the second-quarter data. The trade-weighted index was at 71.98 from 71.51 yesterday. Gross domestic product expanded 1 percent in the June quarter, accelerating...

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