New Zealand Dollar News
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The Canadian dollar declined for a third day versus its U.S. peer amid speculation the Federal Reserve may indicate when it will begin slowing monetary stimulus in the U.S., the nation’s largest trading partner.
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The Australian dollar extended this quarter’s biggest decline among major counterparts after the Reserve Bank indicated the currency may weaken further.
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Australia’s dollar rose, extending its first weekly gain against the greenback in six, amid speculation record bets on its decline may be overdone.
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New Zealand Prime Minister John Key said he wants the country’s central bank to exempt first-home buyers from tighter mortgage lending criteria it is planning to implement.
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The Australian and New Zealand dollars slumped against their major peers as market volatility prompted traders to retreat from higher-yielding assets.
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The New Zealand dollar fell against all 16 major peers after the nation’s central bank kept borrowing costs unchanged at a record low to avoid re-igniting demand for the currency.
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The dollar is moving more in tandem with stocks than any time since 2008 in a sign that traders are gaining confidence in the sustainability of the U.S. recovery.
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New Zealand’s central bank expects to keep borrowing costs at a record low this year to avoid re- igniting demand for the currency, which it said remains overvalued. The kiwi declined.
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The New Zealand dollar fell against its 16 major peers after the Reserve Bank left benchmark rates unchanged at a record low and said the currency remains overvalued.
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The following is a reformatted version of a statement released on the website of the Reserve Bank of New Zealand, which today left its official cash rate at a record-low 2.5 percent.
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