NZ dollar touches fresh 2-year low as market begins to price in rate cut

Thu, 28 Jun 2018

By Rebecca Howard June 28 (BusinessDesk) - The New Zealand dollar touched a fresh two-year low after the central bank kept rates on hold and the market began to price in a possible cut. The kiwi traded at 67.80 US cents as at 5pm in Wellington versus 67.91 cents at 8am and 68.17 late yesterday. It touched a low of 67.67 cents earlier in the day. The trade-weighted index was at 72.61 from 72.77. "The official cash rate will remain at 1.75 percent for now. However, we are well positioned to manage change in either direction – up or down...

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