NZ dollar pares decline vs. A$ after RBA affirms rate stance

Tue, 04 Mar 2014

By Paul McBeth March 4 (BusinessDesk) - The New Zealand dollar pared losses against its trans-Tasman counterpart after the Reserve Bank of Australia affirmed its policy of keeping the cash rate unchanged while it waits to see whether the low interest rate environment will support the economic recovery. The kiwi rose to 90.67 Australian cents at 5pm in Wellington from 93.37 cents immediately before the RBA release, and unchanged from 93.67 cents yesterday. The kiwi traded at 83.65 US cent at 5pm, unchanged from 8am, and up from 83.53 cents y...

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