NZ dollar drops to new 5-month low as policy uncertainty weighs on investors

Tue, 24 Oct 2017

By Paul McBeth Oct. 25 (BusinessDesk) - The New Zealand dollar extended its decline, falling to a fresh five-month low, as the lack of hard policy in governance agreements between the Labour, NZ First and Green parties continued to unnerve markets. The kiwi fell as low as 68.84 US cents and traded at 69.02 cents as at 8am in Wellington from 69.44 cents yesterday. The trade-weighted index dropped to 72.95 from 73.27 yesterday and is at an 18-month low. Since NZ First leader Winston Peters declared his support for a Labour-led governme...

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