Jul
28
Kiwi Jumps as Wheeler Flags Rate-Cut Doubts With Growth Outlook
ByNew Zealand’s dollar climbed to a two-week high after Reserve Bank Governor Graeme Wheeler cast doubt on the need for deep interest-rate cuts, with traders brushing aside his call that further currency depreciation is needed.
The kiwi climbed for a third day even after Wheeler said “a more substantial” weakening in the currency is necessary during a speech to the Chamber of Commerce in Tauranga, New Zealand on Wednesday. Traders pared bets on the pace of policy easing after Wheeler said the economy isn’t weak enough to warrant big reductions in interest rates…
Kiwi Jumps as Wheeler Flags Rate-Cut Doubts With Growth Outlook
