NZ dollar drops to 2-month low vs. A$ after RBA drops easing bias

Tue, 04 Feb 2014

By Paul McBeth Feb. 4 (BusinessDesk) - The New Zealand dollar fell to a two-month low against its trans-Tasman counterpart after the Reserve Bank of Australia moved away from further rate cuts after inflation came in higher than expected and Australian consumer spending shows signs of life. The kiwi fell to 91.45 Australian cents at 5pm in Wellington from 92.33 cents immediately before the release, and down from 92.70 cents yesterday. The local currency traded at 80.98 US cents at 5pm from 80.92 cents at 8am, down from 81.16 cents yesterday....

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