NZ dollar drops below key support level as jobs data weighed, faces stiff resistance at 84 cents

Wed, 06 Aug 2014

By Tina Morrison Aug. 6 (BusinessDesk) - The New Zealand dollar fell below a key support level of 84.50 US cents as employment data painted a mixed view of the labour market. The kiwi fell as low as 84.27 US cents from 84.53 cents immediately before the 10:45am release of the jobs data in Wellington, and was trading at 84.38 cents at midday. The local currency weakened overnight but had failed to break through 84.50 cents amid falling dairy prices, better US economic data and as investors favoured safe haven currencies on concern about he...

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