NZ dollar set for weekly gain after Reserve Bank surprise

Fri, 15 Feb 2019

By Jenny Ruth Feb. 15 (BusinessDesk) - The New Zealand dollar fell slightly on the day but is headed for a 1.2 percent weekly gain after the Reserve Bank surprised the market last Wednesday with a less dovish than expected monetary policy statement. The New Zealand dollar was trading at 68.26 US cents at 5pm in Wellington from 68.39 at 8am. The traded-weighted index eased to 74.21 points from 74.31. “We’re up on the week simply because of the market response to an aggressively neutral central bank,” says Peter Cavanaugh, the senior cli...

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