NZ dollar TWI heads for 1.7% weekly gain as rate cut bets pared back; US jobs report looms

Fri, 08 Jul 2016

By Paul McBeth July 8 (BusinessDesk) - The New Zealand dollar is heading for a 1.7 percent gain on a trade-weighted basis as economists pulled back their expectations for another interest rate cut after the Reserve Bank disappointed some in the market anticipating new tools would be rolled out sooner to cool the housing market. The trad-weighted index rose to 77.61 at 5pm in Wellington from 76.30 last week and was up from 76.72 yesterday. That's the highest level since May last year and well above the Reserve Bank's 71.6 projected averag...

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