Kiwi dollar falls, OCR on hold at 1.75%

  • The NZ dollar dropped by about three quarters of a US cent and fell sharply against the Aussie after the Reserve Bank gave a far more dovish than expected message at it latest review of the official cash rate.

Soon after the 9am release of the Reserve Bank’s statement, the currency was at US68.50, down from US$69.25 just before.

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Reserve Bank Governor Graeme Wheeler holds the line on the official cash rate. Photo/Mark Mitchell