The Kiwi slides after RBNZ's lack of action

Source: Bloomberg
© Scanpix/Reuters
The New Zealand Dollar fell to the lowest level in seven months time after the Reserve Bank of New Zealand did not change its stance on the benchmark interest rate and kept it at 3.5%. The Kiwi slid 0.6% to 81.75 U.S. cents early morning in London after probing 81.66 cents. The currency decreased against all of its 31 most-traded peers. Experts state that the Kiwi will slip to 80 cents by the end of the year.

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