NZ dollar gains vs. Australian dollar on iron ore weakness; Yellen awaited

Fri, 27 Mar 2015

By Jonathan Underhill March 27 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart on sliding prices for iron ore exported to China, that nation's biggest market, while traders await a speech by US Federal Reserve chair Janet Yellen on Friday in the US. The kiwi rose to 97.13 Australian cent as at 5pm in Wellington, from 96.98 cents yesterday. It was little changed at about 75.80 US cents. Iron ore sank to a record low US$54.20 a tonne this week and has more than halved in the past 12 months amid a supply...

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