NZ dollar hits 5-yr high vs. AUD as growth revisions may paint rosier picture of local economy

Mon, 25 Nov 2013

By Paul McBeth Nov. 25 (BusinessDesk) - The New Zealand dollar rose to a five-year high against its trans-Tasman counterpart as traders mulled the impact of revisions to the way gross domestic product is measured that may show faster growth in 2012 stemming from the Canterbury rebuild. The kiwi rose as high as 89.77 Australian cents, trading at 89.76 cents at 5pm in Wellington from 89.28 cents on Friday in New York. It rose to 82.20 US cents at 5pm in Wellington from 81.83 cents at 8am and 81.93 cents last week. Statistics New Zealand is...

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