NZ dollar gains as US debt ceiling deadline approaches, RBA leaves door open for rate cut

Tue, 15 Oct 2013

By Paul McBeth Oct. 15 (BusinessDesk) - The New Zealand dollar gained as the deadline looms for US politicians to cut a deal to avoid a potential default and after minutes of the last Reserve Bank of Australia review left the door open for another rate cut. The kiwi rose to 83.86 US cents at 5pm in Wellington from 83.67 cents at 8am and 83.31 cents yesterday. The trade-weighted index gained to 77.76 from 77.34. Investors are becoming more optimistic US legislators will reach a compromise over the stalled Federal budget, with a Thursday de...

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