New Zealand’s dollar plunged more than one US cent on Thursday after its central bank signaled an end to monetary tightening in the face of slowing growth and easing inflation around the world.
In early trade, the kiwi dropped to US73.21¢ from US74.42¢, before settling around US73.32¢. There was a corresponding freefall against the Australian dollar to A92.63¢ from A93.75¢, before a slight recovery to around A92.70¢.
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