(Bloomberg) -- New Zealand's dollar dropped from a
22-year high after a survey showed consumer confidence fell for
a second consecutive quarter, adding to signs the central bank
won't raise interest rates again this year.
A Westpac Banking Corp./McDermott Miller consumer sentiment
index dropped 6.3 percent in the second quarter. The Reserve
Bank of New Zealand boosted the cash rate three times this year,
helping the currency gain 9 percent as investors were attracted
to the nation's higher-yielding assets.
Read more at Bloomberg Currencies News
22-year high after a survey showed consumer confidence fell for
a second consecutive quarter, adding to signs the central bank
won't raise interest rates again this year.
A Westpac Banking Corp./McDermott Miller consumer sentiment
index dropped 6.3 percent in the second quarter. The Reserve
Bank of New Zealand boosted the cash rate three times this year,
helping the currency gain 9 percent as investors were attracted
to the nation's higher-yielding assets.
Read more at Bloomberg Currencies News
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