NZ dollar dips

The New Zealand dollar has fallen Thursday, trading at 65.86 US cents from yesterday’s 65.97 US cents.

It’s been another quiet night for currency markets with only the CAD and GBP breaking out of tight ranges, according to the XE morning update.

The Canadian dollar slipped lower after the Bank of Canada kept their interest rate unchanged at 1.75 per cent, but slashed their fourth quarter growth forecast from 1.3 per cent to 0.3 per cent and are now predicting that 2020 growth is unlikely to reach its 2.0 per cent target. The adjustments to the 2020 forecasts leaves the door open for future interest rate cuts.

The British Pound spiked higher following the release of the latest CBI manufacturing business optimism report which showed a significant uptick in optimism.


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