NZ dollar may extend rally against Australian counterpart as outlook dims across the Tasman

Thu, 04 Oct 2012

By Paul McBeth Oct. 4 (BusinessDesk) - The New Zealand dollar may extend gains against its trans-Tasman counterpart after tepid consumer spending and building approvals erode confidence in the strength of the so-called lucky country's economy. The kiwi traded at 80.33 Australian cents at 5pm in Wellington from 80.41 cents yesterday. It rose to 82.06 US cents from 81.82 cents at 8am, though still down from 82.22 cents yesterday. Australian retail sales rose 0.2 percent in August according to government figures, half what economists were exp...

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