NZ dollar soars to 2-month high vs Aussie as RBA cuts key rate on weak inflation

Tue, 03 May 2016

By Jonathan Underhill May 3 (BusinessDesk) - The New Zealand dollar jumped to a two-month high against the Australian dollar after the Reserve Bank of Australia cut its cash rate citing weaker-than-expected inflation, widening the gap with local interest rates. The kiwi touched 92.94 Australian cents, the highest since Feb. 29, and traded at 92.23 cents as at 5pm in Wellington, from 91.42 cents immediately before the RBA statement and from 92 cents late yesterday. The currency dropped to 69.85 US cents, having earlier gained to as high as...

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