NZ dollar gains vs. Australian dollar after mining investment slumps across the Tasman

Thu, 26 Nov 2015

By Paul McBeth Nov. 26 (BusinessDesk) - The New Zealand dollar gained against its trans-Tasman counterpart after figures showed Australian mining investment slumped in the third quarter, reigniting speculation the central bank may have to cut interest rates again. The kiwi rose to 90.96 Australian cents from 90.57 cents immediately before the release, and 90.38 cents yesterday. The local currency was little changed at 65.86 US cents at 5pm in Wellington from 65.70 cents at 8am and 65.78 cents yesterday. The Australian dollar dropped...

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