NZ dollar rises against the Aussie after RBA indicates further rate cuts

Tue, 18 Jun 2019

By Jenny Ruth June 18 (BusinessDesk) - The New Zealand dollar rose against the Australian dollar after the Reserve Bank of Australia said it is more likely than not to cut its cash rate further. The kiwi was trading at 94.93 Australian cents at 5pm in Wellington from 94.75 at 7:45am. It was little changed at 64.93 US cents from 64.94 and the trade-weighted index was at 71.69 points from 71.68. In minutes explaining its June 4 decision to cut the cash rate from 1.5 percent to 1.25 percent, the RBA said the move should reduce spare capac...

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