2015 IN REVIEW: Weak dairy, rate cuts, US strength weigh on kiwi

Mon, 21 Dec 2015

By Tina Morrison Dec. 21 (BusinessDesk) - The New Zealand dollar fell from peak levels this year as a slump in dairy prices weighed on the outlook for the country's largest export, and pushed down interest rates, while a stronger US economy lifted the greenback. The kiwi recently traded at 67.33 US cents, down from 77.97 cents at the start of the year, and from a peak of 88.35 cents in the middle of last year. Global dairy prices have dropped below the cost of production this year as supply outweighs demand. New Zealand is the world's...

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