Currency Note Worldwide

Rate cut hits New Zealand dollar

By Ricky Bean June 12th, 2015

The main story of the week has been the fall of the New Zealand dollar following the surprise cut in New Zealand’s interest rates by 0.25% to 3.25%. Weakening demand, low inflation were the drivers for this cut and the New Zealand dollar has lost five cents against sterling since Thursday morning.

Also the Chinese Yuan has lost ground against sterling following worries over their economy and mirroring the movement of the US dollar.

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