The New Zealand dollar touched a fresh five-year high against its trans-Tasman counterpart overnight as economic data strengthens expectations Australia may cut interest rates further, increasing the yield appeal of New Zealand’s currency where interest rates are set to rise. The kiwi touched 90.86 Australian cents overnight, and was trading at 90.61 cents at 8am in Wellington, from 90.34 cents …

Wall Street fell after stronger-than-expected US private jobs data raised concern the Federal Reserve might begin tapering its bond-buying programme sooner than anticipated. An ADP report showed private employers added 215,000 new jobs to their payrolls in November, the largest increase in a year and comfortably exceeding economists’ expectations. Meanwhile, October’s rise was revised to 184,000, up from 130,000. “The …

The New Zealand dollar reached a fresh five-year high against its trans-Tasman counterpart after figures showed Australia’s economy grew less than expected in the third quarter. The kiwi rose as high as 90.54 Australian cents in the local session, and traded at 90.31 cents at 5pm in Wellington from 90.01 cents yesterday. It fell to 81.85 US cents at 5pm …