NZ dollar hits two-month $A high as RBA jawbones

Thu, 03 Jul 2014

By Paul McBeth Jul. 3 (BusinessDesk) - The New Zealand dollar rose to a two-month high against its trans-Tasman counterpart after Reserve Bank of Australia governor Glenn Stevens called his nation's currency overvalued. The kiwi rose as high as 93.50 Australian cents, trading at 93.43 cents at 5pm from 92.58 cents yesterday. It traded at 87.66 US cents at 5pm from 87.69 cents at 8am and 87.52 cents yesterday. The RBA's Stevens told an economists' conference in Hobart the Australian dollar was overvalued "and not just by a few cents" an...

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