NZ dollar rises on growing expectations for US rate cut

Tue, 04 Jun 2019

By Rebecca Howard June 5 (BusinessDesk) - The New Zealand dollar was higher on growing speculation the US could move to cut rates, in particular against the backdrop of rising trade tensions. The kiwi was trading at 66.16 US cents at 7:50am in Wellington from 65.76 US cents at 5pm in Wellington. The trade-weighted index was at 72.52 points from 72.26. The greenback came under pressure after US Federal Reserve Chairman Jerome Powell said the Fed is "closely monitoring" the implications of trade tensions and will "act as appropriate to...

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