NZ dollar drops below 94 Aust cts ahead of Australian business confidence report

Mon, 27 Jan 2014

By Tina Morrison Jan. 28 (BusinessDesk) – The New Zealand dollar dropped below 94 Australian cents overnight as investors await a report on Australian business confidence later today. The kiwi slipped to 93.98 Australian cents at 8am in Wellington, from 94.25 cents at 5pm yesterday ahead of the NAB Business Confidence survey scheduled for release at 1:30pm New Zealand time. The local currency was little changed at 82.29 US cents. The New Zealand dollar has advanced 17 percent against its Australian counterpart in the past year as a revivin...

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