NZ dollar advances against Aussie on intervention, rate cut speculation

Tue, 26 Nov 2013

By Tina Morrison Nov. 27 (BusinessDesk) – The New Zealand dollar advanced against the Australian dollar as Australia’s central bank mulls intervention to pull down its currency on concern it will stymie economic growth. The kiwi touched a high of 89.94 Australian cents overnight, and traded at 89.69 cents at 8am in Wellington, from 89.60 cents at 5pm yesterday. The local currency edged lower to 81.91 US cents from 82.39 cents yesterday. The Australian dollar has weakened as Australia’s Reserve Bank talks about possible currency intervention...

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