NZ dollar may extend drop vs. Australian dollar as iron ore prices gain, China recovers

Mon, 07 Jan 2013

By Paul McBeth Jan. 7 (BusinessDesk) - The New Zealand dollar may extend its decline against its trans-Tasman counterpart as Australia's currency rallies on rising commodity prices and the prospect of a stronger Chinese economy. The kiwi fell to 79.17 Australian cents at 5pm in Wellington from 79.35 cents on Friday in New York. It traded at 82.94 US cents from 83.02 cents at 8am and 83.13 cents last week. Australia's dollar may rally this week as government figures on Wednesday are expected to show consumers lifted their spending 0.3 perce...

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