NZ dollar rises vs. Australian dollar before reports on business confidence, economic outlook

Mon, 12 Aug 2013

By Tina Morrison Aug. 13 (BusinessDesk) – The New Zealand dollar rose against the Australian dollar as investors look ahead to reports today which may show the Australian economy is weakening, increasing the likelihood of further interest rate cuts. The kiwi advanced to 87.50 Australian cents at 8am in Wellington from 87.32 cents at the 5pm market close in Wellington yesterday. The local currency slipped to 80.01 US cents from 80.34 cents yesterday. Traders will be eyeing Australia’s NAB Business Confidence and the Commonwealth Treasury’s pr...

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