Asian Session – Kiwi slumps on RBNZ comments, aussie benefits from Chinese PMI
Posted on July 24, 2014 at 6:45 am GMTThe Kiwi or the New Zealand dollar was the main loser of today’s trading after the Central Bank Governor Graeme Wheeler warned that the level of the currency was “unjustified and unsustainable”. After the Reserve Bank of New Zealand hiked rates as expected to 3.50% from 3.25%, the Governor also signaled a pause in the interest rate increase cycle so as to observe what is happening to inflation and the economy following the rise in the currency and the four [..]