YEAR IN REVIEW NZ dollar’s gains vs. Aussie show diverging economies, supremacy of milk

Thu, 19 Dec 2013

By Tina Morrison Dec. 19 (BusinessDesk) – The New Zealand dollar’s 17 percent rally against the Australian dollar this year highlights the diverging paths of the two Downunder economies, as dairy products lead continued strength in soft commodities and demand wanes for iron ore and coal. The kiwi started the year at 79.58 Australian cents and recently traded at 92.78 cents, touching a fresh five-year high of 93.04 cents today after New Zealand reported stronger-than-expected third-quarter growth. New Zealand’s economy is on a tear, driven by...

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