NZ dollar falls against Aussie on diverging rate policy

Fri, 05 Apr 2019

By Jenny Ruth April 5 (BusinessDesk) - The New Zealand dollar fell against the Australian dollar due to the divergence in monetary policy between the Reserve Bank of New Zealand and the Reserve Bank of Australia. The kiwi was trading at 94.83 Australian cents at 5pm in Wellington from 94.94 at 8am and 95.29 late yesterday. Tim Kelleher, the head of institutional foreign exchange sales at ASB Bank, says a large number of options, somewhere between $1-1.5 billion, had been holding the currency up against its Australian counterpart but th...

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