Excerpt from:  GFT Analysts in the News
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September 11, 2008

New Zealand Dollar Falls in Currency Trading After Rate Cut

Forex trading with the kiwi
The New Zealand dollar is falling rather dramatically in currency trading on the FX market this morning. The main catalyst for this drop is the rate cut made by the central bank. The rate cut was rather large: 0.5 percent.

This cut has been made in response to the slowing economy in New Zealand, as shown by the housing sector. Additionally, with the U.S. dollar gaining and commodities softening, there is little support in forex trading for the kiwi as a commodity currency.

The Australian dollar is also struggling in FX trading today.

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Topic Tags:  currency trading, currency trading FX market, dollar currency trading, forex trading, forex trading kiwi, FX market, FX trading, New Zealand dollar

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