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New Zealand dollar falls to global low after ratings cut

NEW YORK : The New Zealand dollar fell to a global session low against the US dollar on Thursday after ratings agenc
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By Abdul Ahad
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Newzealand_DollarNEW YORK: The New Zealand dollar fell to a global session low against the US dollar on Thursday after ratings agency Fitch cut New Zealand's credit rating by one notch to AA.

Fitch said it is unlikely the country will be able to sustainably reduce its current account deficit in the next few years.

The New Zealand dollar was last down 0.5 percent at US$0.7704 after going as low as US$0.7696.

 

Copyright Reuters, 2011

 

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