NZ dollar breaks below 84.50 US cents on dairy drop, jobs data

Wed, 06 Aug 2014

By Jonathan Underhill Aug. 6 (BusinessDesk) - The New Zealand dollar broke below a key resistance level as the continued slide in dairy prices and data that painted a mixed picture of the labour market weighed on the kiwi in a market less willing to take on risk. The kiwi traded at 84.29 US cents, down from 84.68 cents at the start of the day and from 85.21 cents yesterday. The trade-weighted index dropped to 79.08 from 79.76 yesterday. New Zealand's jobless rate fell more than expected to 5.6 percent in the second quarter, although th...

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