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New Zealand cuts interest rates amid trade tensions, Australian dollar hits five-year low.
The Reserve Bank of New Zealand cut its cash rate by 0.25% to 3.5%, with more cuts possible due to trade tensions.
The Australian dollar hit a five-year low, dipping below 60 cents against the US dollar, due to lower commodity prices and expected interest rate cuts.
Analysts predict further declines in the New Zealand dollar, while the Australian stock market fell 2% following new US tariffs on China.
Trade tensions and economic concerns are pressuring both currencies.
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Nueva Zelandia reduce los tipos de interés en medio de tensiones comerciales, el dólar australiano alcanza un nivel bajo de cinco años.