NZ dollar trades below key support level as market digests dovish RBNZ statement

Fri, 12 May 2017

By Jonathan Underhill May 12 (BusinessDesk) - The New Zealand dollar is heading for a 0.5 percent weekly decline, having tumbled yesterday after a 'dovish' Reserve Bank statement and traders said the kiwi could extend its decline if it ends the week below a key support level. The kiwi traded at 68.41 US cents as at 5pm in Wellington from 68.34 cents late yesterday and down from 68.59 cents a week ago. The trade-weighted index was at 74.70 from 74.74 yesterday, below the RBNZ's latest projected average for the TWI in the June quarter of 76...

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