NZ dollar drops, taking 4-week decline to 5% as dairy falls, US jobs, Fed loom

Tue, 07 Mar 2017

By Jonathan Underhill March 8 (BusinessDesk) - The New Zealand dollar fell, rounding out a four-week decline of about 5 percent that's been driven by expectations the Federal Reserve will raise interest rates next week while the Reserve Bank keeps its rate low. Dairy prices fell in the overnight auction, adding to weaker kiwi sentiment. The kiwi dollar fell to 69.61 US cents as at 8am in Wellington, the lowest since early January, from 70.06 cents late yesterday. The trade-weighted index fell to 76.23, having earlier reached a five-month...

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