Kiwi drops versus Greenback as RBNZ cuts rates

Note: This section contains information in English only.
Source: WBP Online
The New Zealand Dollar tumbled against the US Dollar on Thursday, as the RBNZ reduced the interest rate by 25 basis points to 2.75%, leaving the door open to further cuts. The NZD/USD pair declined 1.54% to trade at $0.6288 by 07:21 AM GMT. The Reserve Bank also announced that the Kiwi remained overvalued, and the further depreciation could support the economy during its commodity downturn. 
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