NZ dollar falls vs. Aussie dollar after RBA cuts rates by 25 basis points

Tue, 05 Jun 2012

By Hannah Lynch June 05 (BusinessDesk) - The New Zealand dollar fell versus the Australian dollar after the Reserve Bank of Australia cut its target cash rate by 25 basis points as deteriorating global sentiment keeps interest rates low. The New Zealand dollar fell to 77.47 Australian cents at 5pm from 77.69 cents immediately before the announcement and 77.84 cents in late Asian trading yesterday, when the local market was closed for the Queen’s Birthday holiday. The kiwi rose to 75.82 US cents from 75.13 cents. The RBA cut is benchmark int...

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