NZ dollar falls vs. A$ after RBA tones down rhetoric; dairy auction looms

Tue, 04 Nov 2014

By Paul McBeth Nov. 4 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after the Reserve Bank of Australia toned down its rhetoric in calling its currency too high, and ahead of the latest Fonterra Cooperative Group dairy auction. The kiwi fell to 88.70 Australian cents at 5pm in Wellington from 88.99 cents immediately before the announcement, and down from 88.92 cents yesterday. The local currency rose to 77.46 US cents at 5pm from 77.25 cents at 8am, though still lower than 77.61 cents yesterday. The...

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