NZ dollar climbs above 4-year high vs. Aust on hawkish RBNZ stance

Thu, 25 Jul 2013

By Paul McBeth July 25 (BusinessDesk) - The New Zealand dollar rose to a four-and-a-half year high against its Australian counterpart amid diverging interest rate outlooks for the trans-Tasman neighbours. The kiwi rose as high as 87.43 Australian cents, the highest since November 2008, and traded at 87.14 cents at 5pm in Wellington from 86.01 cents yesterday. It climbed to 79.80 US cents at 5pm from 79.29 cents at 8am and 79.66 cents yesterday. Reserve Bank governor Graeme Wheeler kept the key rate on hold at 2.5 percent, lower than Austra...

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