NZ dollar drops after magnitude 7.5 earthquake in upper South Island

Sun, 13 Nov 2016

By Jonathan Underhill Nov. 14 (BusinessDesk) - The New Zealand dollar fell to its lowest level in about a month after a magnitude 7.5 earthquake near Seddon left two people dead, triggered tsunami warnings and damaged buildings as far north as Wellington. The kiwi fell to 70.88 US cents as at 8am in Wellington, from 71.26 cents in late New York trading on Friday. The trade-weighted index fell to 76.97 from 77.21. The quake cut off the town of Hanmer Springs, cut power in centres including Kaikoura, blocked roads and closed office build...

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