NZ dollar tumbles as markets focus on likely RBNZ rate cut

Thu, 25 Jul 2019

By Rebecca Howard July 26 (BusinessDesk) - The New Zealand dollar is sharply weaker as markets focus on a likely rate cut in early August, in particular after the head of the Australian central bank said he's ready to cut rates if necessary. The kiwi was trading at 66.57 US cents versus 66.95 US cents at 5pm in Wellington and the trade-weighted index eased to 73.08 points from 73.39. Kiwibank trader Mike Shirley said the fall in the kiwi was kicked off when RBA governor Philip Lowe told the Anika Foundation lunch that "if demand gro...

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