NZ dollar holds near 12-month high vs. Australian currency as traders split on RBA rate cut

Mon, 01 Oct 2012

By Paul McBeth Oct. 1 (BusinessDesk) - The New Zealand dollar held near a 12-month high against its Australian counterpart ahead of tomorrow's Reserve Bank of Australia meeting, with traders divided on whether the central bank will cut interest rates. The kiwi rose as high as 80.08 Australian cents today, the highest since September last year, and traded at 79.99 cents at 5pm in Wellington, up from 79.88 cents at the close of trading last week. The currency fell to 82.70 US cents from 82.82 cents at 8.30am in Wellington, and down from 82.97...

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