Kiwi losses further ground against sterling & aussie

The New Zealand dollar lost further ground against both sterling and the aussie yesterday.

• Demand for the kiwi was undermined as lower risk appetite and uncertainty over the Reserve Bank of New Zealand’s interest rate decision later in the week continued to weigh.
  
• Investor have reduced their position in the New Zealand dollar leading up to the RBNZ decision this evening, with markets generally split over whether the bank will cut rates or leave them on hold.