NZ dollar holds above 98 Australian cents on weak iron ore, RBA bets

Tue, 31 Mar 2015

By Jonathan Underhill March 31 (BusinessDesk) - The New Zealand dollar held above 98 Australian cents, having earlier touched a post-float high, as the slumping price of iron ore stoked bets the Reserve Bank of Australia will cut interest rates next week to revive a flagging economy. The kiwi dollar traded at 98.03 Australian cents as at 5pm in Wellington, having risen as high as 98.43 cents overnight, from 97.53 cents late yesterday. The local unit fell to 74.79 US cents from 75.39 cents. Iron ore with 62 percent content at Qingdao,...

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