NZ dollar hits new 5-year high vs. Aussie on divergent future interest rate paths

Wed, 04 Dec 2013

By Tina Morrison Dec. 5 (BusinessDesk) – The New Zealand dollar touched a fresh five-year high against its trans-Tasman counterpart overnight as economic data strengthens expectations Australia may cut interest rates further, increasing the yield appeal of New Zealand’s currency where interest rates are set to rise. The kiwi touched 90.86 Australian cents overnight, and was trading at 90.61 cents at 8am in Wellington, from 90.34 cents at 5pm yesterday. The local currency edged lower to 81.79 US cents from 81.86 cents yesterday after better t...

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