NZ dollar gains vs. Australian dollar business investment slows across the Tasman

Thu, 29 Nov 2012

By Paul McBeth Nov. 29 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart after official figures showed business investment is slowing in Australia, which could be a key factor in its central bank interest rate decision next week. The kiwi rose to 78.75 Australian cents from 78.56 cents yesterday. It traded at 82.41 US cents at 5pm in Wellington from 82.34 cents at 8.30am, and up from 82.14 cents yesterday. Australian capital spending advanced 2.8 percent from the second quarter, when it rose 3.4 percent, the...

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