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NZD hits a monthly low ahead of RBNZ meeting

The New Zealand dollar slumped yesterday morning, opening the week at its lowest level in nearly a month, after a three-month high against the US dollar only last week.

Further volatility is expected ahead of the Reserve Bank of New Zealand meeting tomorrow. The meeting has been a point of much discussion amongst market analysts, with the majority expecting a rate cut of 25 basis points to 0.75%.

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