![NZ dollar falls on dovish OCR, US debt backdrop](/pf/resources/images/placeholders/placeholder_l.png?d=793)
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.
Reserve Bank Governor Alan Bollard may hike the official cash rate by 50 basis points as soon as September, though any future hikes will be held back by a surging kiwi dollar.
The official cash rate has been held 2.5 per cent, as expected. Alan Bollard said the strength of the New Zealand dollar may limit the need for future rate hikes in the short term.
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.
The New Zealand dollar could go higher still as markets await inflation data out of Australia this afternoon. The New Zealand dollar was holding at 87.25 US cents...
The New Zealand dollar soared to a new 25-year-high, passing 87 cents, as speeches by US President Barack Obama and House Speaker John Boehner showed no progress in lifting the debt ceiling.
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.
The NZ dollar could potentially hit US90c against the greenback over the next few weeks, a currency strategist says. But the high dollar is starting to hurt NZ's economic growth, according to John Key.
How on earth are we going to export more high value, high wage-producing goods with a currency headed for parity vs the US dollar?
Apple's solid profits failed to take away investors' concern about the political wrangling in the US.