NZ dollar slips on trade-weighted basis, still stong enough to ensure RBNZ rate cut

Mon, 05 Sep 2016

By Jonathan Underhill Sept. 6 (BusinessDesk) - The New Zealand dollar fell from near a 16-month high on a trade-weighted basis but is still seen as sufficiently above the levels projected by the Reserve Bank to warrant another cut to the official cash rate in coming months. The kiwi traded at 73.01 US cents as at 8am in Wellington, from 73.35 US cents late yesterday. The trade-weighted index was at 77.71, from as high as 78.06 late yesterday, the highest since May last year. The TWI is more than 2 percent above the average level the Re...

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