The Trader 

Market Outlook: Get down under

The Trader

In an interview with Bloomberg John McDermott, assistant governor of the Reserve Bank of New Zealand noted that the New Zealand Dollar ‘does need to adjust down’ against its US counterpart.  It did and promptly lost 1 per cent of its value.  This followed a central bank meeting this morning where it was agreed that the key Cash Rate should remain at the current record low 1.75 per cent.

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