NZ dollar TWI slips from post-float record ahead of likely RBNZ rate hike

Wed, 12 Mar 2014

By Paul McBeth March 12 (BusinessDesk) - The New Zealand dollar fell from a post-float high on a trade-weighted basis ahead of tomorrow’s Reserve Bank policy review, which will likely kick off a tightening cycle with a rate hike. The trade-weighted index rose as high as 79.68, and was at 79.46 at 5pm in Wellington from 79.50 yesterday. The kiwi dollar traded at 84.64 US cents at 5pm from 84.61 cents at 8am, and down from 84.80 cents yesterday. Traders have priced in a 101 percent chance of a rate hike by Reserve Bank governor Graeme Wheel...

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