Kiwi/Aussie parity could be back on the cards but not overnight

Tue, 06 Jun 2017

By Rebecca Howard June 6 (BusinessDesk) - The diverging fortunes of the Australian and New Zealand economies are once again fueling talk of parity between the two nations' currencies, although traders don't expect it to happen overnight. The kiwi dollar gained about 4 percent against the Aussie in May as the Australian dollar was hit hard by weak iron ore prices and news that major commodities importer China had its sovereign credit rating cut. The New Zealand dollar, meanwhile, pushed higher on a raft of positive data, including a 44-y...

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