NZ dollar steady ahead of US vote, RBNZ call on cash rate

Tue, 08 Nov 2016

By Edwin Mitson Nov. 8 (BusinessDesk) - The New Zealand dollar remained steady against its US counterpart ahead of voting in the American presidential election on Tuesday in the US, and the Reserve Bank of New Zealand's monetary policy statement on Thursday, when a quarter point cash rate cut to 1.75 percent is expected. The kiwi traded at 73.24 US cents at 5pm in Wellington, up from 73.22 cents at 8am and 73.15 cents at 5pm yesterday. Traders are betting on an 88 percent probability that the RNBZ will cut the cash rate, according to Reut...

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