NZ dollar rises against the Aussie after S&P downgrade

Thu, 07 Jul 2016

By Edwin Mitson July 7 (BusinessDesk) - The New Zealand dollar rose 0.3 percent against its trans-Tasman counterpart in response to ratings agency Standard & Poor's lowering Australia's credit outlook from stable to negative. At 3pm in Wellington, the New Zealand dollar was trading at 95.00 Australian dollars, a rise of 0.3 cents. Standard & Poor's says Australia has retained its AAA rating for now, but warned the negative outlook reflected its view that without the implementation of more forceful fiscal policy decisions by the govern...

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