NZ dollar falls after stronger US data, unexpected decline in dairy product prices

Tue, 15 Aug 2017

By Jonathan Underhill Aug. 16 (BusinessDesk) - The New Zealand dollar fell after stronger-than-expected US retail sales lifted the greenback and prices fell in the GlobalDairyTrade auction overnight. The kiwi dropped to 72.36 US cents as at 8am in Wellington from 73.01 cents late yesterday. The trade-weighted index fell to 76.53 from 77 yesterday. The US dollar index gained about 0.4 percent after retail sales in July rose 0.6 percent, twice the forecast pace, while sales in the previous month were revised higher. The data added to po...

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