(Bloomberg) -- New Zealand's dollar strengthened against Australia's on speculation there's a greater chance of an interest-rate increase, widening the advantage for holding the currency.
The Reserve Bank of New Zealand last week raised rates a quarter-point to a record 7.75 percent and traders see a 17 percent chance of another increase in June, according to a Credit Suisse index based on overnight interest-rate swaps. The Reserve Bank of Australia today said inflation will cool this year, reducing the prospect the bank will lift its 6.25 percent rate.
Read more at Bloomberg Currencies News
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