NZ dollar reaches two-month high on TWI basis as next week's rate cut seen as the last

Thu, 03 Nov 2016

Nov. 4 (BusinessDesk) - The New Zealand dollar rose to its highest level in two months on a trade-weighted basis on speculation next week's expected official cash rate cut by the Reserve Bank will be the last in its easing cycle. The trade-weighted index climbed to 78.57 as at 8am in Wellington, from 78.29 late yesterday. The kiwi dollar rose to 73.27 US cents from 73.08 cents. The Chicago Board Options Exchange (CBOE) Volatility Index, or VIX, known as Wall Street's fear gauge, has risen to a five-month high as financial markets have bec...

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