NZ dollar holds near parity with Australian dollar, may breach if RBA cuts rate

Mon, 06 Apr 2015

By Jonathan Underhill April 7 (BusinessDesk) - The New Zealand dollar traded near parity with the Australian dollar and may break through A$1 should the Reserve Bank of Australia cut its cash rate as expected today. The kiwi was at 99.37 Australian cents as at 8:30am in Wellington, having risen to as high as 99.78 cents from 99.63 cents in late Asian trading yesterday. The local currency traded at 75.50 US cents from 76 cents yesterday. Traders see a 75 percent chance that Australia's central bank will cut its cash rate a quarter point...

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