NZ dollar drops below 77 US cents in line with weaker Aussie

Mon, 03 Nov 2014

By Tina Morrison Nov. 4 (BusinessDesk) - The New Zealand dollar dropped below a key support level of 77 US cents to touch its lowest in more than a year as it was weighed down by a weaker Australian dollar and a strengthening US currency. The kiwi touched 76.97 US cents, its lowest level since July 2013. The local currency was trading at 77.25 US cents at 8am in Wellington from 77.61 cents at 5pm yesterday. The trade-weighted index slipped to 76.27 from 76.48 yesterday. The Australian dollar, considered a proxy for China, has been unde...

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