NZ dollar rises to highest in 4-12 years against Aussie on interest rates, growth outlook

Sun, 26 May 2013

By Tina Morrison May 27 (BusinessDesk) – The New Zealand dollar surged to its highest in four and a half years against its Australian counterpart as New Zealand’s rising interest rates and growth outlook increase the lure of the nation’s currency. The kiwi advanced to 84 Australian cents from 83.58 at 5pm on Friday. It earlier touched 84.25 cents, the highest since January 2009. The trade-weighted index rose to 81.01 from 76.35 on Friday. Slowing growth in Australia after the peak of the mining boom is likely to see the Reserve Bank of Austr...

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