4 Mar 2010

Mixed fortunes for NZ dollar

7:40 am on 4 March 2010

The New Zealand dollar has had a day of differing fortunes.

The Kiwi traded at 25-year highs overnight on Tuesday against the British pound as concerns mount over the British government debt.

Earlier on Wednesday, the dollar sank to a 10-year low against its Australian counterpart.

The Kiwi slipped below 77 cents after the Reserve Bank of Australia on Tuesday raised interest rates for the fourth time in five months.

The Reserve Bank of New Zealand is expected to keep the Official Cash Rate on hold next week, highlighting the difference in the outlook for the two currencies.