NZ dollar follows Aussie higher as expectations for RBA dwindle

Fri, 22 Feb 2013

Feb. 22 (BusinessDesk) - The New Zealand dollar followed its trans-Tasman buddy higher after Reserve Bank of Australia governor Glenn Stevens backed the current target cash rate and downplayed the chances of a currency intervention. The kiwi rose to 83.79 US cents at 5pm in Wellington from 83.17 cents this morning and 83.42 cents yesterday. The trade-weighted index advanced to 76.48 from 76.22. The RBA's Stevens told politicians in Canberra there's more stimulus to come from the already reduced interest rates, and that it will have an effe...

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