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NZ dollar continues downward slide

Author
Sam Thompson,
Publish Date
Mon, 26 Jan 2015, 4:53PM

NZ dollar continues downward slide

Author
Sam Thompson,
Publish Date
Mon, 26 Jan 2015, 4:53PM

The New Zealand dollar has continued its downward slide dropping to 74.29 today against the Greenback.

BNZ market strategist Raiko Shareef says the strengthening US dollars and investors speculating a cut in interest rates by the Reserve Bank has pushed the Kiwi down

But he feels it's too early for the Reserve Bank to abandon its tightening bias.

"We suspect that it will retain it but it may soften its tone slightly on Thursday's meeting," he says.

"If it does we will probably continue to see the New Zealand dollar trade heavily over the coming weeks."

 

 

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