New Zealand dollar slides as traders expect further cuts
June 15, 2015 1:55 am
The New Zealand dollar plummeted on Monday following the Reserve Bank of New Zealand reduced interest rates and traders anticipated more cuts in the coming months.
RBNZ central bank reduced the benchmark rate to 3.25%.
The kiwi slid to 62.28 euro cents from Friday’s 62.35 euro cents, 69.93 US cents from 70.04 US cents, and 44.94 British pence from 45.16 British pence. Versus the Japanese yen, the currency closed at ¥86.19 from ¥86.45.
The NZD/USD inched lower over the weekend, toppling the :key psychological support level of 0.7000 and reaching a five-year low,” said Bancorp Treasury Services.
Meanwhile, markets will await the BNZ-BusinessNZ Performance of Services Index due today.
The material has been provided by InstaForex Company – www.instaforex.com
The New Zealand dollar plummeted on Monday following the Reserve Bank of New Zealand reduced interest rates and traders anticipated more cuts in the coming months.
RBNZ central bank reduced the benchmark rate to 3.25%.
The kiwi slid to 62.28 euro cents from Friday’s 62.35 euro cents, 69.93 US cents from 70.04 US cents, and 44.94 British pence from 45.16 British pence. Versus the Japanese yen, the currency closed at ¥86.19 from ¥86.45.
The NZD/USD inched lower over the weekend, toppling the :key psychological support level of 0.7000 and reaching a five-year low,” said Bancorp Treasury Services.
Meanwhile, markets will await the BNZ-BusinessNZ Performance of Services Index due today.
The material has been provided by InstaForex Company – www.instaforex.com
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