NZ dollar sharply weaker after 3Q GDP misses expectations

Thu, 20 Dec 2018

By Rebecca Howard Dec. 20 (BusinessDesk) - The New Zealand dollar was sharply weaker against the US dollar after weaker-than-expected economic growth in the third quarter added to the view that rate cuts may be back on the table. The kiwi traded at 67.37 US cents at 5pm in Wellington from 68.28 US cents as at 8am and from 68.64 cents yesterday. The trade-weighted index declined to 73.83 from 74.92 yesterday. The kiwi had already dropped around a quarter of a US cent after the Federal Reserve raised interest rates and signaled more to...

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