NZ dollar trades below 87 US cts amid speculation on slower pace of rate hikes

Thu, 17 Jul 2014

By Jonathan Underhill July 17 (BusinessDesk) - The New Zealand dollar fell to its lowest level in three weeks amid speculation the Reserve Bank may use its interest rate review next week to signal a slower pace of rate hikes, tarnishing the appeal of the currency’s high yield. The kiwi traded at 86.93 US cents at 5pm in Wellington, having earlier fallen as low as 86.83 cents, from 86.98 cents late yesterday. The trade-weighted index fell to 80.96 from 81.04. Most economists still expect Reserve Bank governor Graeme Wheeler to raise the...

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