NZ dollar falls vs. trans-Tasman counterpart as Aust inflation beats estimates

Wed, 23 Oct 2013

By Paul McBeth Oct. 23 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after faster-than-expected inflation eroded the chances of another rate by the Reserve Bank of Australia, and fuelled demand for the Australian dollar. The kiwi dropped to 87.16 Australian cents at 5pm in Wellington from 87.64 cents immediately before the inflation report, and 87.48 cents yesterday. The kiwi slipped to 84.58 US cents at 5pm from 85.13 cents at 8am and was up from 84.42 cents yesterday. Australian consumer prices rose 1...

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