NZ dollar holds near 5-year high vs. Australian dollar on interest rate paths

Thu, 05 Dec 2013

By Paul McBeth Dec. 5 (BusinessDesk) - The New Zealand dollar held near a five-year high against its trans-Tasman counterpart as the likely divergent interest rate paths of the two economies continued to fuel demand for the kiwi. The kiwi traded at 90.74 Australian cents at 5pm in Wellington, having climbed as high as 90.95 cents today, from 90.34 cents yesterday. The local currency rose to 82.09 US cents at 5pm from 81.79 cents at 8am and 81.86 cents yesterday. A sluggish Australian economy has kept alive the potential for another rate c...

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