NZ dollar may extend gains after RBA more upbeat on Australian, Chinese economies

Tue, 07 Aug 2012

By Paul McBeth Aug. 7 (BusinessDesk) - The New Zealand dollar may extend gains after the Reserve Bank of Australia was slightly more upbeat about the prospects for the so-called 'Lucky Country' and less pessimistic on China's slowdown, as it kept its target cash rate unchanged at 3.5 percent. The kiwi advanced to 82.02 US cents at 5pm in Wellington from 81.96 cents at 8.30am from 81.86 cents yesterday. The trade-weighted index crept up to 73.54 from 73.49 yesterday. Australia's central bank kept the benchmark interest rate unchanged, while...

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