NZ dollar gains vs Aussie as Westpac rate hike poses questions for RBA

Wed, 29 Aug 2018

By Paul McBeth Aug. 30 (BusinessDesk) - The New Zealand dollar gained against its trans-Tasman counterpart after an out-of-cycle rate hike by Westpac Banking Corp caused traders to question the Reserve Bank of Australia's policy stance. The kiwi rose to 91.83 Australian cents as at 8am in Wellington from 91.32 cents yesterday. The local currency was largely unchanged at 67.13 US cents from 67.10 cents yesterday. The Australian dollar fell about half a US cent after Westpac yesterday raised its variable mortgage rate 14 basis points,...

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