NZ dollar trades off lows on buying ahead of MPS

Tue, 10 Jun 2014

By Jonathan Underhill Jun. 10 (BusinessDesk) - The New Zealand dollar recovered from intraday lows amid buying ahead of the monetary policy statement on Thursday, as traders speculate the central bank could be less dovish than the market is pricing. The kiwi rose to 85 US cents from 84.88 cents at 8am to be lower than in late trading yesterday at around 85.13 cents. The trade weighted index traded at 79.28 from 79.16 at the start of the day. The Reserve Bank is poised to raise the official cash rate to 3.25 percent on Thursday, althoug...

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