NZ dollar drops to month low on dairy concern, US dollar strength

Tue, 10 Mar 2015

By Tina Morrison March 11 (BusinessDesk) - The New Zealand dollar dropped to a month low after the government yesterday revealed threats to contaminate infant formula with poison, raising concern the action may hurt sales of dairy products, the nation's largest export. US dollar strength also weighed on the local currency. The kiwi touched 72.55 US cents and was trading at 72.62 cents at 8am in Wellington, from 72.99 cents at 5pm yesterday. The trade-weighted index fell to 76.67 from 76.90 yesterday. The local currency declined after o...

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