NZ dollar slips from year-high vs. Aussie as ratings agencies play down risk of hung parliament

Mon, 04 Jul 2016

By Paul McBeth July 4 (BusinessDesk) - The New Zealand dollar slipped from a year-high against its trans-Tasman counterpart after ratings agencies downplayed the threat a hung parliament would have on Australia's triple-A credit rating. The kiwi traded at 95.83 Australian cents at 5pm in Wellington from 95.55 cents on Friday. It rose as high as 96.29 cents as investors weighed up the prospect of a hung parliament across the Tasman. The trade-weighted index was little changed at 76.65 from 76.63 last week. Both Moody's Investors Servi...

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