NZ dollar falls vs. Aust as growth across the Tasman reduces rate cut talk

Wed, 04 Sep 2013

By Paul McBeth Sept. 4 (BusinessDesk) - The New Zealand dollar extended its decline against its trans-Tasman counterpart after faster-than-expected second-quarter growth in Australia dulled expectations that country’s Reserve Bank will have to cut interest rates further. The kiwi fell to 85.81 Australian cents at 5pm in Wellington from 86.11 cents immediately before the gross domestic product figures were released, and down from 86.63 cents yesterday. The local currency traded at 78.10 US cents at 5pm from 77.90 cents at 8am, down from 78.27...

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