NZ dollar falls on dovish OCR, US debt backdrop
The New Zealand dollar fell against the US currency on the back of yesterday's more dovish official cash rate announcement, the US debt ceiling deadlock, and reemerging European sovereign concerns.
The New Zealand dollar fell against the US currency on the back of yesterday's more dovish official cash rate announcement, the US debt ceiling deadlock, and reemerging European sovereign concerns.
As the US debt crisis continues to dominate world markets, In afternoon trading the Dow Jones Industrial Average edged 0.08 per cent higher, the Standard & Poor's 500 Index gained 0.30 per cent and the Nasdaq rose 0.67 per cent.
The New Zealand dollar fell against the greenback ahead of the Reserve Bank's official cash rate announcement this morning.
Nervous investors took profits overnight as it becomes increasingly clear that there won't be a simple solution to the US debt crisis.
Barack Obama has warned of "incalculable damage", in a rare prime time speech, if the US debt...
A Mexican standoff in the US debt talks, with a potential credit ratings downgrade and a government default at stake, kept investors on the sidelines overnight.
Economic data is reading a little bit like the zombie apocalypse at the moment: the dollar hit an all-time high this week while inflation is the highest it has been in 21 years.
World markets were up overnight, as positive debt reports came out of the United States and Europe.