NZ dollar drops to 5-week low ahead of RBNZ as greenback surges

Wed, 11 Mar 2015

By Tina Morrison March 12 (BusinessDesk) - The New Zealand dollar dropped to a five-week low ahead of the Reserve Bank decision on interest rates today as the greenback surged to a 12-year high. The kiwi touched 71.87 US cents, close to its February low of 71.74 cents, and was trading at 71.97 cents at 8am in Wellington, from 72.39 cents at 5pm yesterday. The trade-weighted index fell to 76.27 from 76.51 yesterday. The dollar index, which measures the greenback against a basket of currencies, touched 99.985, its highest level since Apr...

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