RBNZ's 'watch and wait' language boosts kiwi dollar despite warning on gains

Wed, 28 Oct 2015

By Paul McBeth Oct. 29 (BusinessDesk) - The New Zealand dollar rebounded after the Reserve Bank left interest rates on hold and warned the currency's recent appreciation may keep rates low, as traders took Governor Graeme Wheeler's "watch and wait" language as a sign an immediate fall in the kiwi isn't warranted. The kiwi dollar recently traded at 66.97 cents, recovering from a decline of more than 1 US cent, after the RBNZ reiterated that it has another rate cut up its sleeve and may have to maintain a lower track for rates if the curren...

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