NZ dollar touches fresh five-year low as traders price in more interest rate cuts

Mon, 22 Jun 2015

By Tina Morrison June 23 (BusinessDesk) - The New Zealand dollar hit a fresh five-year low as traders firm up expectations for more interest rate cuts following a weaker-than-expected gross domestic product report last week, and as upbeat US economic data strengthens the case for US rate hikes in September. The kiwi touched 68.57 US cents, its lowest level since July 2010, and was trading at 68.63 cents at 8am in Wellington, from 69.14 cents at 5pm yesterday. The trade-weighted index slipped to 71.52 from 71.79 yesterday. The US dollar...

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