NZ dollar gains against Aussie as OCR cut expectations wane

By Jenny Ruth | Fri, 08 Nov 2019


The New Zealand dollar rose against the Australian dollar as traders became less certain that the Reserve Bank will cut interest rates next week and after Australia's central bank cut its growth and inflation forecasts. The kiwi was trading at 92.46 Australian cents at 5:05pm in Wellington from 92.08 at 7:50am. It was unchanged at 63.63 US cents, but well down from the close in New York last Friday at 64.26 cents. "The market's going, 'maybe we should be a bit more circumspect'" about the chances the RBNZ will cut its official cash rate a...