The New Zealand dollar has dropped, getting a kicking after the RBNZ 'dovish hold'
- The RBNZ held its Official Cash Rate (OCR) at 1.75%
But its Statement pared back its expected interest rate hike path
ICYMI:
- RBNZ leaves its cash rate on hold, as expected
- NZD lower on the RBNZ dovish hold statement
- RBNZ Gov Orr says the risks to the rate outlook are balanced, up or down
- More from RBNZ Gov Orr - says NZD very close to fair value
(ps. Yet to come is RBNZ Governor Orr answering parliamentarians questions, due at 0100GMT)
Weighing on the NZD a little further, Fonterra (Milks'r'us … OK, I made that bit up ) has had share trading halted, citing a 'variance' on guidance.
NZD:
