NZ dollar falls after dairy prices drop; Fed, GDP loom

Wed, 18 Mar 2015

By Jonathan Underhill March 18 (BusinessDesk) - The New Zealand dollar fell after prices of dairy products dropped more than some expected in the GlobalDairyTrade auction overnight and as the market awaits the US Federal Reserve's latest review of monetary policy. The kiwi fell to 73.04 US cents as at 5pm in Wellington from 73.55 cents at 3am before the dairy auction result, and 73.79 cents late yesterday. The trade-weighted index declined to 77.23 from 78.09 yesterday. Whole milk powder, the largest product by volume sold on the GDT p...

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