NZ dollar drops as jobs growth stalls, dairy prices fall

Wed, 04 Nov 2015

By Paul McBeth Nov. 4 (BusinessDesk) - The New Zealand dollar fell after data showed jobs growth unexpectedly stalled and dairy prices fell at the latest GlobalDairyTrade auction, adding pressure to the Reserve Bank to cut interest rates when it next reviews the Official Cash Rate in December. The kiwi dropped to 66.57 US cents at 5pm in Wellington from 66.91 cents at 8am, and 67.46 cents yesterday. The trade-weighted index declined to 71.76 from 73.05 yesterday. New Zealand's unemployment rate rose 6 percent in the September quarter,...

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