NZ dollar gains vs Aussie as RBA affirms flat rate track

Tue, 04 Dec 2018

By Paul McBeth Dec. 4 (BusinessDesk) - The New Zealand dollar hit a seven-month high against its trans-Tasman counterpart after the Reserve Bank of Australia affirmed a flat interest rate track. The kiwi rose as high as 94.53 Australian cents and was trading at 94.39 cents as at 5pm in Wellington, up from 93.79 cents yesterday. The kiwi climbed to 69.54 US cents from 69.10 cents yesterday. The RBA kept the target cash rate at 1.5 percent as expected, sticking to its guidance that further progress on inflation and employment will be g...

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