NZ dollar gains vs. Aussie as federal election leaves neither major party with clear majority

Sun, 03 Jul 2016

By Jonathan Underhill July 4 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart after the federal election across the Tasman left neither major party with a clear majority as the final count is awaited. The kiwi dollar rose to 96.04 Australian cents from 95.55 cents on Friday in New York. It traded at 71.58 US cents, little changed from 71.62 cents at the end of last week. Prime Minister Malcolm Turnbull, who gambled on a double-dissolution election to seek a clearer mandate, suffered a swing to Labor at...

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