NZ dollar gains vs. Australian dollar as weak building consents add to resources fears

Thu, 30 Aug 2012

By Paul McBeth Aug. 30 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart as new building approvals across the Tasman sank, adding to fears the mining boom may be coming to an end. The kiwi rose to 77.58 Australian cents at 5pm in Wellington from 77.24 cents at 8am and was little changed from 77.59 cents yesterday. It traded at 80.13 US cents from 80.01 cents at 8am and down from 80.42 cents yesterday. Australia's currency came under pressure after falling iron ore prices and a slowing Chinese economy sparked...

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