NZ dollar gains to two-month high vs Aussie after RBA lowers inflation track

Fri, 06 May 2016

By Jonathan Underhill May 6 (BusinessDesk) - The New Zealand dollar rose to a two-month high against the Australian dollar after the Reserve Bank of Australia lowered its forecast inflation track, adding to a case for a further interest rate cut across the Tasman. The New Zealand dollar rose to 92.68 Australian cents and earlier touched 92.81 cents the highest since early March apart from a brief spike on Tuesday when the RBA cut its cash rate to 1.75 percent. The kiwi fell to 68.54 US cents, dragged lower by a drop in the Aussie dollar,...

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