NZ dollar continues decline against greenback on dairy price fall

Wed, 04 Jan 2017

By Edwin Mitson Jan. 4 (BusinessDesk) - The New Zealand dollar has continued to fall against the greenback, trading below 69 US cents off the back of the biggest drop in dairy prices in three months. The Global Dairy Trade price index fell 3.9 percent overnight, while whole milk powder fell 7.7 percent to US$3,294 a tonne, mainly due to a lack of buyers to mop up the extra supply on offer. The kiwi traded as low as 68.90 US cents this afternoon, before paring back to 69.02 US cents at 5 pm in Wellington, compared to 69.21 cents at 8 a...

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