NZ dollar above 92 Australian cents on RBA rate cut bets

Mon, 02 May 2016

The New Zealand dollar rose above 92 Australian cents for the first time since early March on speculation softer inflation data across the Tasman and weaker demand in China may prompt the Reserve Bank of Australia to cut its benchmark interest rate tomorrow. The kiwi traded at 91.96 Australian cents at 5pm in Wellington, having earlier gained to as high as 92.20 cents, from 91.08 cents at the end of last week. The local currency rose as high as 70.19 US cents, a two-week high, and was recently at 69.91 cents, up from 69.73 cents at the New...

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