NZ dollar falls as dairy prices extend decline

Wed, 02 Jul 2014

By Suze Metherell July 2 (BusinessDesk) - The New Zealand dollar declined as dairy prices fell to their lowest in 18 months at Fonterra Cooperative Group's latest GlobalDairyTrade auction, raising concerns about the strength of the local economy. The kiwi slipped to 87.52 US cents at 5pm in Wellington, from 87.71 cents at 8am and 87.67 at 5pm yesterday. The trade-weighted index edged lower to 81.14 from 81.25 yesterday. The trade-weighted GDT price index fell 4.9 percent to US$3,595 a tonne, its ninth decline in the last 10 auctions an...

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