NZ dollar rises to new 5-year high vs. Australian dollar on dovish RBA

Tue, 30 Jul 2013

By Jonathan Underhill July 30 (BusinessDesk) – The New Zealand dollar rose to a new five-year high against its Australian counterpart after Reserve Bank of Australia governor Glenn Stevens said there is room both for his currency and interest rates to go lower in the face of subdued domestic demand. The New Zealand dollar climbed as high as 88.11 Australian cents after Stevens gave his speech titled ‘Economic Policy after the Booms’, from 87.53 cents immediately before and from 87.27 cents the previous day. The kiwi traded at 79.89 US cents...

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