NZ dollar climbs above 84 US cts after RBA keeps rates at 3 percent, says more scope to cut

Tue, 02 Apr 2013

By Paul McBeth April 2 (BusinessDesk) - The New Zealand dollar rose above 84 US cents after the Reserve Bank of Australia kept its benchmark interest rate at 3 percent as the nation's spending picks up from a lull, and said it has scope to cut it need be. The kiwi rose to 84.03 US cents at 5pm in Wellington from 83.75 cents at 8am and 83.52 cents yesterday. The trade-weighted index increased to 76.95 from 76.89 yesterday. The RBA kept the target cash rate on hold, saying an accommodative monetary stance is appropriate, and held its view th...

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