NZ dollar holds gains vs. Australian dollar, may become over-stretched

Mon, 29 Dec 2014

By Jonathan Underhill Dec. 29 (BusinessDesk) - The New Zealand dollar held its gains against the Australian dollar, trading near a nine-year high, although some traders said the kiwi is starting to look over-valued against its nearest neighbour and talk of parity may be premature. The kiwi traded at 95.44 Australian cents as at 5pm in Wellington, having reached 95.72 cents over the weekend, the highest since December 2005. The local currency advanced to 77.57 US cents from 77.51 cents at the New York close on Friday. The Australian dol...

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