Reported about 10 hours ago
The New Zealand dollar has declined to its lowest level against the Australian dollar in two years, driven by increasing expectations of a significant interest rate cut by the Reserve Bank of New Zealand (RBNZ) next week. As speculations suggest a potential reduction of at least 50 basis points, the kiwi fell 0.6% to 1.1180 AUD, amidst concerns over the nation's economic struggles and the impact of high interest rates on growth. Investors are betting on continued weakness in the kiwi as the RBNZ prepares for its monetary policy adjustments.
Source: YAHOO