NZ dollar advances to week-high as kiwi favoured over Aussie

NZ dollar advances to week-high as kiwi favoured over Aussie
By Tina Morrison Nov. 6 (BusinessDesk) – The New Zealand dollar touched a week high on strong demand for the local currency after the Reserve Bank of Australia said that nation’s currency was too high. The kiwi rose as high as 83.34 US cents early this morning and was at 83.00 cents at 8am in Wellington from 82.63 cents at the 5pm market close yesterday. The local currency touched a two-week high of 87.66 Australian cents overnight and was at 87.44 cents this morning from 87.13 cents yesterday. Investors shunned the Aussie after Australia’s...