Kiwi falls on pessimistic business confidence

Source: NZ Yahoo Business & Finance
© scanpix/Reuters
The New Zealand Dollar fell against its US peer down to 0.677, as downbeat business sentiment along with low building intentions raised expectations for further interest rate cuts. The New Zealand companies turned pessimistic about the economic outlook for the first time since 2011, after Deutsche Bank New Zealand predicted an interest rate cut in October reaching the level of 2.5%.
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