NZ dollar soars above 71 US cents as RBNZ keeps OCR unchanged, frets about heated housing market

Thu, 09 Jun 2016

By Jonathan Underhill June 9 (BusinessDesk) - The New Zealand dollar surged after the Reserve Bank kept the official cash rate unchanged and governor Graeme Wheeler said he didn't want to provide any more stimulus to an overheated housing market, stoking speculation a rate cut in August may be off the cards as well. The kiwi traded at 71.37 US cents as at 5pm in Wellington, and earlier touched a 12-month high of 71.46 cents, from 70.02 cents late yesterday. The trade-weighted index climbed to 75.68 from 74.39 yesterday. The kiwi jumped...

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