NZ dollar gains vs Aussie as Australian economy shrinks

Wed, 07 Dec 2016

By Jonathan Underhill Dec. 7 (BusinessDesk) - The New Zealand dollar rose against its trans-tasman counterpart after figures showed the Australian economy shrank 0.5 percent last quarter, the first time it has contracted since 2011. The kiwi dollar rose to 95.71 Australian cents from 95.26 cents immediately before the data was released, leaving the cross-rate little changed from 95.82 cents late yesterday. The kiwi dollar traded at 71.19 US cents, having earlier dipped below 70 cents, from 71.33 cents yesterday. The trade-weighted index w...

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