NZ dollar rises to fresh five-year high against Aussie dollar

Mon, 25 Nov 2013

By Tina Morrison Nov 26 (BusinessDesk) – The New Zealand dollar rose to a fresh five-year high against the Australian dollar overnight on expectations the local economy will continue to outperform that of its closest neighbour. The kiwi touched 89.99 Australian cents last night, and was trading at 89.51 cents at 8am in Wellington, from 89.75 cents at the 5pm market close yesterday. The local currency slipped to 81.96 US cents from 82.20 cents yesterday. Reports this week are expected to show the contrast between a revival in New Zealand’s ec...

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