Aussies jealous as NZ dollar approaches parity

The Aussie dollar has staved off parity with the Kiwi … for now. A rate cut reprieve from the Reserve Bank of Australia (RBA) on Tuesday saved what the Aussies called an embarrassment: parity with the Kiwi. However, the market still expected the New Zealand dollar to achieve parity sooner than later as the RBA looks for a lower exchange rate to stimulate the economy across the Tasman. If the gold kiwi grows wings and soars above the golden kangaroo, the New Zealand dollar will be worth more than an Australian dollar for the first time since October 1973.