NZ dollar tumbles 1.2% on TWI basis after RBNZ's dovish tilt

Thu, 09 Aug 2018

By Rebecca Howard Aug. 9 (BusinessDesk) - The New Zealand dollar tumbled 1.2 percent against its trading partners and interest rate swaps fell after the Kiwi central bank said rates would stay at record lows for up to a year longer than previously indicated. The kiwi fell to 66.73 US cents as at 5pm from 67.50 cents at 8am and 67.53 cents yesterday. The trade-weighted index dropped 71.80 from 72.68. New Zealand's two-year swap rate fell 7 basis points to 2.03 percent while 10-year swaps were down 9 basis points to 2.92 percent. ...

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