NZ dollar drops vs. Australian dollar after inflation data; Fed, RBNZ loom

NZ dollar drops vs. Australian dollar after inflation data; Fed, RBNZ loom
By Jonathan Underhill Jan. 28 (BusinessDesk) - The New Zealand dollar dropped against the Australian dollar after unexpectedly strong inflation data across the Tasman prompted traders to wind back bets that nation's central bank could cut interest rates. The kiwi traded at 93.23 Australian cents as at 5pm in Wellington, from more than 94 cents immediately before the Australian consumer price figures were released and from 93.51 cents late yesterday. The New Zealand dollar was recently at 74.51 US cents, little changed from 74.45 cents yes...