NZ dollar bounces from month-low as dairy auction deflates optimism over local outlook

Wed, 04 Oct 2017

By Paul McBeth Oct. 4 (BusinessDesk) - The New Zealand dollar recovered from a month-low after a surprise drop in dairy prices took the sheen off the local economic outlook, while data showed the housing market continued to slow down last month. The kiwi rose to 71.80 US cents as at 5pm in Wellington from a low of 71.46 cents overnight and 71.62 cents yesterday. The trade-weighted index was little changed at 75.74 from 75.82. Investors were surprised by 2.4 percent fall in the GDT price at the GlobalDairyTrade auction overnight after...

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