NZ dollar drops below 70 US cents as greenback rallies, dairy prices fall, jobs data looms

Tue, 01 May 2018

By Jonathan Underhill May 2 (BusinessDesk) - The New Zealand dollar fell below 70 US cents for the first time this year as prospects of interest rate hikes in the US helped drive up the greenback, dairy prices fell and traders looked ahead to this morning's employment data. The kiwi dollar traded at 69.96 US cents as at 8am in Wellington from 70.35 cents late yesterday. The trade-weighted index fell to 73.05 from 73.20. The US dollar index rose 0.7 percent to its highest level since early January on optimism US economic growth and infl...

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