NZ dollar drops vs. Australian dollar as RBA less stressed about currency; dairy auction looms

Tue, 04 Aug 2015

By Paul McBeth Aug. 4 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after the Reserve Bank of Australia toned down its calls for a weaker Australian dollar, while data showed Australian retail sales were better than expected. The kiwi fell to 89.27 Australian cents from 90.02 cents immediately before the RBA announcement, and 90.26 cents yesterday. The kiwi was little changed at 65.62 US cents from 65.70 cents yesterday, and down from 65.89 cents yesterday. The RBA kept the target cash rate at 2 perc...

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