NZ dollar sinks below 74 US cents as rate cut expectations grow

Mon, 11 May 2015

By Jonathan Underhill May 11 (BusinessDesk) - The New Zealand dollar sank to its lowest level since March after retail spending figures added to speculation that the Reserve Bank will cut interest rates this year to lift demand and ensure inflation, currently weak, is consistent with its target The kiwi dropped to 73.85 US cents at 5pm in Wellington, and earlier fell as low as 73.74 cents, the lowest since March 19, from 74.86 cents at the New York close on Friday. The trade-weighted index fell to 76.49 from 77.08 on Friday. Kiwis' sp...

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