NZ dollar falls vs. Aust currency as retail sales trim expectations for another RBA rate cut

Mon, 04 Nov 2013

By Paul McBeth Nov. 4 (BusinessDesk) - The New Zealand fell against its Australian counterpart after strong consumer spending across the Tasman trimmed expectations the Reserve Bank of Australia will cut rates again. The kiwi declined to 87.05 Australian cents at 5pm in Wellington from 87.55 cents at the close of trading in New York on Friday, and little changed from 87.12 cents at the Wellington close last week. The local currency was little changed at 82.54 US cents at 5pm in Wellington 82.56 cents at 8am and 82.63 cents at the New York c...

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