Fri, 25 Jul 2014 09:04:11 GMT
RBNZ believes NZD is not adjusting to falling commodity prices
The Kiwi has had the worst performance of all the major currencies in the last 24-hours and has declined 1.4% against the USD. With the RBNZ raising its cash rate to 3.50% it affirmed that the officials will wait to see the impact of recent hikes. Moreover, the bank stated that the current level of the New Zealand Dollar is