NZ dollar holds near 7-week low vs Australian as swap rates dip

Thu, 19 Jul 2012

By Paul McBeth July 19 (BusinessDesk) - The New Zealand dollar held near a seven-week low against its trans-Tasman counterpart as Australia's interest rate advantage widened on the weak local inflation earlier this week and ahead of next week's Reserve Bank of New Zealand meeting. The kiwi edged lower to 77.05 Australian cents from 77.11 cents yesterday. It was little changed at 80.05 US cents at 5pm in Wellington from 79.99 cents at 8am and up from 79.63 cents yesterday. The Australian dollar rose to US$1.0388 from US$1.0307 yesterday. Aus...

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