NZ dollar ekes out gain after RBA minutes, amid ECB bond buying talk

Tue, 21 Aug 2012

By Paul McBeth Aug. 21 (BusinessDesk) - The New Zealand dollar rose in local trading after the minutes from last week's Reserve Bank of Australia meeting stoked demand for the trans-Tasman currencies by talking up the resilience of its domestic economy. The kiwi rose to 81.06 US cents at 5pm in Wellington from 80.86 cents at 8am and 80.92 cents yesterday. The trade-weighted index was little changed at 73.06 from 73.04 yesterday. The RBA board decided to leave its target cash rate unchanged at 3.5 percent last week, a level deemed "appropriat...

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