NZ dollar drops to seven-week low on weaker dairy prices, speculation ECB may start slowing QE

Wed, 05 Oct 2016

By Paul McBeth Oct. 5 (BusinessDesk) - The New Zealand dollar fell to a seven-week low as weaker prices at the latest GlobalDairyTrade auction weighed on the outlook for the country's biggest export commodity, and on speculation the European Central Bank may start unwinding its quantitative easing programme. The kiwi dropped to 71.87 US cents at 5pm in Wellington from 72.07 cents at 8am and 72.86 cents yesterday. The trade-weighted index declined to 76.53 from 77.43 yesterday. A drop in prices at the latest GlobalDairyTrade auction we...

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