NZ dollar jumps to new 5-year high vs. A$ as RBNZ more hawkish on rate hikes

Thu, 12 Dec 2013

By Paul McBeth Dec. 12 (BusinessDesk) - The New Zealand dollar climbed to a new five-year high against its Australian counterpart after Reserve Bank governor Graeme Wheeler signalled steeper interest rate hikes next year to quell looming inflation pressures, underlining the disparity between the two nations’ economies. The kiwi climbed as high as 91.73 Australian cents, and was at 91.63 cents at 5pm in Wellington from 90.62 cents yesterday. The local currency pared its loss against the greenback after the RBNZ review, trading at 82.64 US ce...

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