NZ dollar jumps to 2-month high vs Aussie as inflation outlook stokes RBA rate cut bets

Thu, 12 May 2016

By Tina Morrison May 13 (BusinessDesk) - The New Zealand dollar jumped to its highest level against the Australian dollar in more than two months, after expectations for Australian inflation fell, stoking speculation of further interest rate cuts in that country. The kiwi touched 93.22 Australian cents, and was trading at 93.04 cents at 8am in Wellington, from 93.03 cents at 5pm yesterday. The local currency slipped to 68.16 US cents from 68.31 cents. Traders have been increasing their bets for future interest rate cuts in Australia af...

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