NZ dollar rises as bets on another OCR cut fade

By Jenny Ruth | Fri, 15 Nov 2019


The New Zealand dollar rebounded amid renewed debate on whether the Reserve Bank will cut interest rates again from current record lows at the same time as the market increased the odds of two more rate cuts from the RBA by May next year. The kiwi was trading at 63.87 US cents at 5pm in Wellington from 63.63 cents at 8am and at 93.94 Australian cents from 93.82 cents. "I think New Zealand is being seen as a better choice of a bad bunch," says Peter Cavanaugh, the senior client advisor at Bancorp Treasury Services. That view comes in th...