NZ dollar gains after Australian inflation faster than expected

Wed, 22 Oct 2014

By Paul McBeth Oct. 22 (BusinessDesk) - The New Zealand dollar rose after Australian inflation was a little higher than expected in the third quarter, supporting demand for the Australian dollar and dragging the kiwi with it. The kiwi rose to 79.76 US cents at 5pm in Wellington from 79.55 cents at 8am, though little changed from 79.85 cents yesterday. The local currency gained to 90.71 Australian cents from 90.57 cents yesterday. Australian inflation rose 0.5 percent in the three months ended Sept. 30, according to the Bureau of Statis...

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