Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Thursday, after the Reserve Bank of New Zealand lowered interest rates by 25 basis points, while the Australian dollar climbed higher.
NZD/USD fell 0.12% to 0.7269, the lowest since November 2.
In a widely expected move, the RBNZ lowered its benchmark interest rate from 2.00% to a new record-low of 1.75%.
Commenting on the decision, RBNZ Governor Graeme Wheeler said that interest rates should stay there until the end of 2019, but he added that “numerous uncertainties remain, particularly in respect of the international outlook, and policy may need to adjust accordingly.”
AUD/USD climbed 0.60% to trade at 0.7682.
Meanwhile, the greenback came under pressure as investors were still digesting Donald Trump’s victory at the U.S. presidential election and the implications his presidency could mean for financial markets.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.20% at 98.45, just off Wednesday’s one-and-a-half week highs of 98.69.