NZ dollar heads for 1.2 percent weekly gain vs. Aussie as interest rates diverge

Fri, 13 Dec 2013

By Paul McBeth Dec. 13 (BusinessDesk) - The New Zealand dollar is heading for a 1.1 percent weekly gain against its Australian counterpart as the differing fortunes for the neighbouring economies underscore the divergent track for each country’s interest rates. The kiwi rose as high as 92.46 Australian cents this week, a new five-year high, trading at 92.01 cents at 5pm in Wellington from 90.95 cents at the start of the week, and 91.63 cents yesterday. It was little changed at 82.37 US cents at 5pm from 82.43 cent at 8am and down from 82.67...

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