New Zealand dollar tanks after central bank defies markets’ near-certainty it would hike rates
Summary
The New Zealand dollar dropped significantly after the country's central bank chose not to raise interest rates, contrary to strong market expectations. This development adds to a broader downward trend, as the currency has already declined by nearly five percent against the U.S. dollar over the past half-year.
The currency has lost almost 5% against the U.S. dollar in six months.
Source: Read the full story at US Top News and Analysis
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