NZ dollar consolidates after slipping below 65 US cents on dairy woes, weak inflation

Thu, 16 Jul 2015

By Tina Morrison July 17 (BusinessDesk) - The New Zealand dollar consolidated overnight after falling below 65 US cents for the first time in six years yesterday as a slump in dairy prices and benign inflation stoked expectations of increased interest rate cuts. The kiwi fell as low as 64.96 US cents late yesterday, and was trading at 65.09 cents at 8am in Wellington, from 65.17 cents at 5pm yesterday. The trade-weighted index slipped to 69.14 from 69.26 yesterday. The local currency weakened after prices for dairy products, the nation...

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