NZ dollar declines as commodities fall amid doubts over oil supply agreement

Mon, 04 Apr 2016

By Tina Morrison April 5 (BusinessDesk) - The New Zealand dollar declined as currencies linked to commodity exports fell out of favour as hopes faded that the oversupply of oil will be reduced any time soon. The kiwi fell to 68.30 US cents at 8am in Wellington, from 68.76 cents at 5pm yesterday. The trade-weighted index declined to 72.27 from 72.67 yesterday. Currencies linked to commodity production such as the kiwi and the Aussie declined after oil prices dropped to a one-month low amid doubts that producing countries will freeze out...

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