• NZ dollar treads water ahead of Reserve Bank's monetary policy statement


    The New Zealand dollar is little changed ahead of the Reserve Bank's monetary policy statement tomorrow afternoon. The kiwi was trading at 67.29 US cents at 5pm, from 67.29 at 8am. The trade weighted index was at 73.21 points from 73.26. "I think the market is poised to fall potentially on a more dovish statement than we've seen out of them recently," says Mitchell McIntyre, a dealer at XE. The market has already priced in a cut in the Reserve Bank's official cash rate by the end of this year, "but there's still room for more downside," McIntyre says. "If they think they need to remain accommodative for a ... (full story)