NZ dollar falls after RBA cuts its cash rate

Tue, 04 Jun 2019

By Jenny Ruth June 4 (BusinessDesk) - The New Zealand made up lost ground from earlier in the day after the Reserve Bank of Australia cut its cash rate, a move that had already been fully priced into the market, but then the kiwi fell again. The kiwi was trading at 65.76 US cents at 5pm in Wellington, down from 65.93 immediately after the RBA’s announcement, from 65.98 at 7:45am and at 94.40 Australian cents from 94.54. The trade-weighted index was at 72.26 points from 72.40. The RBA cut its cash rate from 1.5 percent to 1.25 percent....

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