NZ dollar falls as greenback rises; weak dairy, pause in rate hikes weigh on sentiment

Wed, 20 Aug 2014

By Jonathan Underhill Aug. 20 (BusinessDesk) - The New Zealand dollar fell to a five-month low as the greenback broadly rose on speculation the Federal Reserve is closer to raising interest rates and sentiment for the kiwi was dented by weaker dairy prices and what may be a prolonged pause in hikes to the official cash rate. The local dollar fell to 83.91 US cents, breaking below a key support level of 84 cents for the first time since early March, and down from 84.47 cents yesterday. The trade-weighted index slipped to 78.95 from 79.21 y...

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