Kiwi Soars to One-Year High in Latest Snub to Central Bank Cuts

  • Aussie trading at levels not seen since before RBA cut in May
  • Markets remain in strong yield-seeking mode, Westpac says

Kiwi Soars After New Zealand Cuts Rates to Record Low

New Zealand’s dollar surged to the highest since May 2015 after traders deemed the central bank’s decision to cut borrowing costs was insufficiently dovish amid the global ardor for yield spurred by unprecedented global monetary easing.

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