NZ dollar briefly drops below 69 US cents as weaker dairy auction results posted

Tue, 20 Dec 2016

The New Zealand dollar briefly fell below 69 US cents for the first time since June, around the time the results of the latest GlobalDairyTrade auction were posted, which showed prices fell as expected. The kiwi traded at 69.25 US cents as at 8am in Wellington, having earlier dropped as low as 68.80 cents, from 69.30 cents late yesterday. The trade-weighted index was little changed at 77.20. Dairy prices fell for the first time in four auctions overnight, with whole milk powder down 0.8 percent to US$3,568 a tonne. A decline at the last G...

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