NZ dollar surges after RBA stays put, Australian data beats expectations

Tue, 05 Mar 2013

By Paul McBeth March 5 (BusinessDesk) - The New Zealand dollar climbed after the Reserve Bank of Australia kept rates on hold amid an improving economic recovery, and after retail sales and current account data across the Tasman beat expectations. The kiwi climbed to 82.92 US cents at 5pm in Wellington from 82.38 cents at 8am and 82.11 cent cents yesterday. The trade-weighted index rose to 76.12 from 75.57 yesterday. The Australian dollar climbed to US$1.0235 from US$1.0158 at 5pm in Wellington yesterday. The local currency followed its Au...

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