NZ dollar poised for biggest weekly decline vs. Aussie since May on interest rate outlook

Fri, 19 Oct 2012

By Paul McBeth Oct. 19 (BusinessDesk) - The New Zealand dollar is heading for a 0.9 percent drop against its Australian counterpart this week, the sharpest weekly decline in five months, after benign local inflation stoked bets New Zealand's central bank may cut rates to revive a slowing economy. Better data across the Tasman has seen markets reduce expectations for lower rates in Australia. The kiwi was little changed at 79 Australian cents at 5pm in Wellington from 79.04 cents yesterday. It fell to 81.89 US cents from 82.09 cents yesterday...

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