NZ dollar touches fresh 4-year low as traders bet on RBNZ interest rate cuts

Thu, 29 Jan 2015

By Tina Morrison Jan. 30 (BusinessDesk) - The New Zealand dollar touched a fresh four-year low on increased bets the Reserve Bank may cut interest rates after governor Graeme Wheeler said yesterday that inflation will stay low for longer and rates could go either way. The kiwi touched 72.28 US cents, its lowest level since March 2011, and was trading at 72.36 cents at 8am in Wellington, from 73.34 cents at 5pm yesterday. The trade-weighted index declined to 75.23 from 75.83 yesterday. The New Zealand dollar has dropped more than 2 US c...

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