NZ dollar drops vs. Aussie as growth across the Tasman beats forecast

Wed, 03 Jun 2015

By Paul McBeth June 3 (BusinessDesk) - The New Zealand fell against its Australian counterpart after stronger-than-expected economic growth across the Tasman reinforced speculation the Reserve Bank of Australia won't cut interest rates any further. The kiwi fell to 91.98 Australian cents at 5pm in Wellington from 92.27 cents immediately before the release, and 92.65 cents yesterday. The local currency was little changed at 71.69 US cents from 71.73 cents at 8am and up from 71.13 cents yesterday. The Australian dollar rallied after Bure...

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