NZ dollar rises as Spencer speech creates doubts over further rate cut

Thu, 07 Jul 2016

By Jonathan Underhill July 8 (BusinessDesk) - The New Zealand dollar gained, making it a standout against a broadly stronger greenback, after Reserve Bank deputy governor Grant Spencer flagged concerns over house prices without announcing any immediate measures to tackle the problem, raising doubts the bank will cut interest rates again. The kiwi rose to 72.24 US cents as at 8am in Wellington, up from about 71.50 cents just ahead of Spencer's speech late yesterday. The trade-weighted index rose to 77.36 from 76.72. That's the highest sinc...

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