NZ dollar extends drop vs. A$ after Australian inflation accelerates; RBNZ looms

Wed, 23 Jul 2014

By Paul McBeth July 23 (BusinessDesk) - The New Zealand dollar extended its decline against its trans-Tasman counterpart after Australian government figures showed annual inflation accelerated to its fastest pace in four years, and ahead of the Reserve Bank of New Zealand's interest rate review tomorrow. The kiwi fell to 91.97 Australian cents at 5pm in Wellington from 92.27 cents immediately before the report, and 92.36 cents yesterday. The local currency traded at 86.78 US cents at 5pm from 86.67 cents at 8am and 86.74 cents yesterday....

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