NZ dollar TWI heads for 1.4% weekly drop as RBNZ adopts easing bias, Fonterra cuts forecast

Fri, 29 Jan 2016

By Paul McBeth Jan. 29 (BusinessDesk) - The New Zealand dollar is heading for a 1.4 percent fall on a trade-weighted basis this week after the Reserve Bank's acceptance that it may have to cut rates and Fonterra Cooperative Group's downgraded forecast for the farmgate payout this season eroded investors' appetite for the kiwi. The trade-weighted index fell to 71.05 at 5pm in Wellington from 72.08 last week, driven largely by a decline in the kiwi/Australian dollar cross-rate. The local currency was more muted against the greenback, headi...

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