The Australian dollar rose today against its New Zealand counterpart as the speculation arose that the government will make changes to the planned mining tax after the Prime Minister Kevin Rudd resigned.
Ruddâs popularity was shattered after he proposed the 40 percent tax for the mining companies from 2012. Julia Gillard, Rudd’s successor, said that she was âthrowing open the governmentâs doorâ to negotiate the mining tax with the mining companies.
AUD/NZD traded near 1.2316 as of 9:54 GMT today after opening at 1.2238.
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