NZ dollar gains on record Australian building approvals, RBNZ warns on strong currency

Thu, 31 Oct 2013

By Paul McBeth Oct. 31 (BusinessDesk) - The New Zealand dollar followed its Australian counterpart higher as a jump in Australian building consents helped lift both currencies and after Reserve Bank governor Graeme Wheeler said a strong kiwi may limit the timing and extend of next year’s rate hikes. The kiwi rose to 82.50 US cents at 5pm in Wellington from 82.25 cents at 8am and 82.28 cents yesterday. The trade-weighted index advanced to 76.33 from 76 yesterday. Australian new home building approvals climbed 14 percent last month, accordi...

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