NZ dollar falls after prices decline at global dairy auction

Tue, 17 Mar 2015

By Tina Morrison March 18 (BusinessDesk) - The New Zealand dollar fell, after dairy product prices dropped 8.8 percent in the latest GlobalDairyTrade auction, on concern weaker prices for the country's largest commodity export could dent future economic growth. The kiwi slid to 73.16 US cents at 8am in Wellington from 73.55 cents at 3am ahead of the auction result, and 73.79 cents at 5pm yesterday. The trade-weighted index declined to 77.35 from 78.09 yesterday. The New Zealand dollar weakened after dairy product prices dropped in the...

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