NZ dollar extends slide vs. Australian dollar as jobs data dents rate cut prospects

Thu, 14 Mar 2013

March 14 (BusinessDesk) – The New Zealand dollar extended its slide against the Australian dollar after figures showed Australia’s economy added eight times more jobs than forecast last month, dimming the prospects of a cut in interest rates across the Tasman. The kiwi fell to 78.92 Australian cents from 79.33 cents before the figures were released and down from 80.01 cents before the Reserve Bank of New Zealand said interest rates would be on hold at a record low through 2013. That's the lowest level since Jan. 4. Australian employment jum...

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