NZ dollar may gain vs. Australian on expectations of RBA rate cut

Mon, 03 Dec 2012

By Paul McBeth Dec. 4 (BusinessDesk) - The New Zealand dollar may gain against its Australian counterpart if the Reserve Bank of Australia cuts interest rates as expected, as the resources boom slows across the Tasman and forces the regulator to reduce its yield advantage. The kiwi dollar increased to 78.78 Australian cents at 8am in Wellington from 78.68 cents yesterday, and advanced to 82.10 US cents from 81.95 cents. Traders have almost fully priced in a 25 basis point rate cut when the Reserve Bank of Australia reviews monetary policy...

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