NZ dollar slips below 70 US cents after failing to break above key resistance level

Wed, 20 Apr 2016

By Tina Morrison April 21 (BusinessDesk) - The New Zealand dollar slipped back below 70 US cents overnight after it failed to break through a key resistance level yesterday, prompting traders to bank profits ahead of the Reserve Bank interest rate review next week. The kiwi dropped to 69.72 US cents at 8am in Wellington, from 70.08 cents at 5pm yesterday. The trade-weighted index declined to 73.20 from 73.48 yesterday. The New Zealand dollar declined even as commodity prices gained as traders bet its appreciation through 70 US cents m...

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