Dollar eases ahead of OCR decision
The New Zealand dollar eased slightly against a range of currencies overnight as all eyes this morning are on the Reserve Bank's official cash rate announcement.
The New Zealand dollar eased slightly against a range of currencies overnight as all eyes this morning are on the Reserve Bank's official cash rate announcement.
All 18 analysts polled by Reuters expected the RBNZ to keep the cash rate at the record low of 2.5 percent. The rate will be announced at 9am.
ANZ, in its morning brief, said that now a clearer picture of the impact of the Christchurch earthquake had emerged the Reserve Bank's projections would carry a lot more weight than in its March rate announcement.
The sale of risk assets saw the NZ dollar under pressure in the Asian market session. At 8am today the NZ dollar was at US81.52 cents, down from US81.78c at 5pm yesterday.
Against the Australian it climbed to A76.80c from A76.67c.
It was down to 0.5597 euro from 0.5577, to 49.73 British pence from 49.80p and 65.15 Japanese yen from 65.43.
The trade weighted index was at 69.98 from 70.02 yesterday.
NZPA
Thu, 09 Jun 2011
Thu, 09 Jun 2011
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Dollar eases ahead of OCR decision
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