NZ dollar gains vs Aust dollar as investors rethink interest rate tracks

Tue, 09 May 2017

By Paul McBeth May 9 (BusinessDesk) - The New Zealand dollar hit a two-month high against its trans-Tasman counterpart after weaker than expected consumer spending in Australia saw investors rethink the interest rate paths for the two nations. The kiwi rose as high as 93.94 Australian cents, trading at 93.80 cents as at 5pm in Wellington from 93.48 cents yesterday. The local currency slipped to 69.02 US cents from 69.23 cents yesterday. The Australian dollar dropped almost half a US cent after Bureau of Statistics figures showed reta...

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