NZ dollar gains vs. A$ after first quarter GDP disappoints across the Tasman

Wed, 05 Jun 2013

By Paul McBeth June 5 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart after figures showed economic growth across the Tasman was short of economists’ expectations, adding to the prospect the Reserve Bank of Australia may have to cut rates again. The kiwi rose to 83.41 Australian cents at 5pm in Wellington from 83.16 cents immediately before the release and 82.81 cents yesterday. The currency gained to 80.46 US cents from 80.07 cents at 8am and was little changed from 80.55 cents yesterday. Investors spurne...

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