NZ dollar drops to 2 1/2 year low as Fonterra, RBNZ loom; strong US jobs

Mon, 08 Dec 2014

By Paul McBeth Dec. 8 (BusinessDesk) - The New Zealand dollar dropped to a two-and-a-half year low as investors mull the likelihood of a lower dairy payout when Fonterra Cooperative Group's board reviews its forecast tomorrow, and ahead of the Reserve Bank's final policy review for the year on Thursday. The kiwi dropped as low as 76.44 US cents, the lowest since June 2012, trading at 76.45 at 5pm in Wellington from 76.99 cents at 8am and 77.07 cents on Friday in New York. The trade-weighted index declined to 77.48 from 78.19 last week....

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