NZ dollar drops vs. Australian dollar on more upbeat RBA statement

Tue, 05 Apr 2016

By Jonathan Underhill April 5 (BusinessDesk) - The New Zealand dollar fell against the Australian dollar after the Reserve Bank of Australia gave a less gloomy account of the global and domestic economy while keeping its cash rate unchanged at 2 percent. The kiwi fell to 89.34 Australian cents from 89.82 cents at the start of the day and from 90.06 cents late yesterday. The New Zealand dollar extended its decline against the greenback to 68.05 US cents from 68.76 cents yesterday. RBA governor Glenn Stevens said there were "reasonable p...

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