NZ dollar heads for 1.7 percent weekly drop fall vs. Australian dollar as jobs market deteriorates

Fri, 09 Nov 2012

By Paul McBeth Nov. 9 (BusinessDesk) - The New Zealand dollar is headed for a 1.7 percent weekly decline against its Australian counterpart after the local labour market showed major signs of deterioration and as the Reserve Bank of Australia kept interest rates on hold. The kiwi traded at 78.30 Australian cents at 5pm in Wellington from 78.49 cents yesterday. It traded at 81.61 US cents from 81.67 cents yesterday, and is poised for a 1 percent weekly decline against the greenback. New Zealand's currency underperformed its Australian count...

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