New Zealand Dollar Up Late Against Australian Dollar

 
   By Lucy Craymer 
 

        WELLINGTON--The New Zealand dollar continued to move higher against the Australian dollar on Friday due to broad weakness in the currency.
        Chris Hunter, corporate dealing manager at Western Union Business Solutions, said the Australian dollar fell after Reserve Bank of Australia Gov. Glenn Stevens said in an interview with the Australian Financial Review that an Australian dollar trading at US$0.7500 would be better for the economy.
        The weaker Australian dollar has, however, weighed slightly on the New Zealand dollar against the U.S. dollar during the New Zealand session.
        In late Wellington trading, the New Zealand dollar was at US$0.7798 versus US$0.7805 late Thursday. It was at A$0.9425, compared with A$0.9369 Thursday.
        Mr. Hunter said there were a number of risk events on the calendar next week including New Zealand current account data and gross domestic product figures.
        However "the big one is the Fed--lets see if they can suck the wind out of the Kiwi's sales. The market is obviously a buzz after outstanding non farm payrolls data and the thought is that they will at least mention it. In theory we should see a more hawkish tone from the Fed," said Mr. Hunter.
        Write to Lucy Craymer at lucy.craymer@wsj.com, @lucy_craymer
        (END) Dow Jones Newswires

        December 11, 2014 23:44 ET (04:44 GMT)

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