The New Zealand dollar sagged to a new near-decade low against Australian dollar this week. It was more evidence of the robust state of the Australian economy. Figures out on Wednesday showed the Australian economy grew 0.9 percent last quarter. That followed the Reserve Bank of Australia’s decision to lift interest rates, taking the official rate across the Tasman to 150 basis points above the level in this country. BNZ strategist Mike Jones said the GDP data had showed Australian growth picked up to 2.7 percent year-on-year. The contrast with this country was obvious, annual GDP growth here expected to print closer to flat in the fourth quarter, Mr Jones said. So, despite an upbeat period for risk-sensitive currencies, the weakness of the New Zealand dollar against the Aussie was again our currency’s ‘ball and chain’ against the greenback. - NZPA