NZ dollar falls after dairy product prices decline at overnight auction

Tue, 20 Oct 2015

By Tina Morrison Oct. 21 (BusinessDesk) - The New Zealand dollar fell after dairy product prices declined 3.1 percent at the GlobalDairyTrade auction overnight, snapping four gains for the country's largest commodity export. The kiwi dropped to 67.49 US cents at 8am in Wellington, from 68.07 cents at 5pm yesterday. The trade-weighted index declined to 72.37 from 72.94 yesterday. Dairy product prices had climbed at the previous four auctions following nearly six months of declines. The latest fall tempers expectations for the outlook as...

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