![Dollar still too high, says Reserve Bank](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Dollar still too high, says Reserve Bank
Traders in the local currency are sensitive to suggestions that the Reserve Bank may intervene in the market to lower its value.
Traders in the local currency are sensitive to suggestions that the Reserve Bank may intervene in the market to lower its value.
Wall St moved lower overnight with European equities as the posturing between Greece and its international creditors continued.
The New Zealand dollar rose from a five-year low as investors weighed up the outlook for the US economy and interest rate increases.
Global shares traded in a narrow range overnight as investors assessed data pointing to a brighter outlook and awaited Greek bailout news.
The New Zealand dollar hit a fresh five-year low as traders firm up expectations for more interest rate cuts.
Wall Street rose overnight, pushing the Nasdaq to a record, amid optimism Greece and its international lenders are finally nearing a deal.
The dollar jumped briefly above 70 US cents after the US Fed Reserve pulled back its projections for future interest rate rises.
Yellen has long been categorised as what Fed watchers call a "dove," someone who favours looser monetary policy.
The United States will still have more than double China's per capita income by 2061 even as Chinese income levels grow.
The dollar was little changed, holding below 70 US cents, after a relatively small decline in dairy prices.
The NZ dollar has slipped against the euro as breakdown in Greek debt negotiations stoke fears it will leave the Euro.
Wall St moved lower overnight amid concern about the hardening of stances in talks between Greece and its international creditors as this month's deadline looms large.
The New Zealand dollar could fall as low as US60c against the greenback this year following today's official cash rate cut, a market strategist says.
A cruise industry leader says the falling Kiwi dollar against the United States currency could be an impediment to growth in cruising by New Zealanders.
Banks have slashed mortgage rates this morning in reaction to the Reserve Bank cutting the Official Cash Rate to 3.25 per cent.
The NZ dollar edged up ahead of the Reserve Bank's monetary policy statement tomorrow.
NZIER’s shadow monetary policy board favours an on-hold decision when the Reserve Bank reviews the official cash rate.
QV's latest figures show NZ house values have risen at the fastest pace in 15 months.
The dollar advanced as the greenback weakened following reports Obama raised concerns of US dollar strength.
The dollar may fall this week as traders bet the Reserve Bank could reduce interest rates.
The kiwi touched 70.25 US cents over the weekend, its lowest level since August 2010.
Too many drivers are keeping the Auckland property market hot, and experts see little or no change, as David Maida discovers.
Auckland prices have been rising faster than elsewhere in the country, due to recent action by the Reserve Bank and the Govt.