NZ dollar rises to 3-week high vs. Australian dollar on bets for RBA rate cut

Mon, 01 Aug 2016

By Jonathan Underhill Aug. 2 (BusinessDesk) - The New Zealand dollar rose to a three-week high against the Australian dollar amid expectations the Reserve Bank of Australia will cut its cash rate to a record low 1.5 percent today, boosting the relative appeal of the kiwi. The New Zealand dollar touched 95.20 Australian cents and was trading at 95.05 cents as at 8am in Wellington, from 94.91 cents late yesterday. The kiwi fell to 71.67 US cents from 72.23 cents yesterday. Traders yesterday were putting odds of 68 percent on the RBA cutt...

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