NZ dollar gains to 3-month high vs Aussie dollar as commodities fall, rate bets unwind

Thu, 12 May 2016

By Jonathan Underhill May 12 (BusinessDesk) - The New Zealand dollar rose to a three-month high against the Australian dollar as traders wound back their bets on the pace of rate cuts by the New Zealand central bank and commodity prices weakened in Asia. The kiwi rose to 93.04 Australian cents as at 5pm in Wellington, from 92.38 cents late yesterday. The local currency rose to 68.30 US cents from 67.92 cents yesterday. The local currency has strengthened since the release of the Reserve Bank's financial stability report yesterday, hav...

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