NZ dollar falls as Yellen deemed more upbeat, dairy prices drop

Tue, 15 Jul 2014

July 16 (BusinessDesk) - The New Zealand dollar fell to a week-low after Federal Reserve chair Janet Yellen was deemed to be more upbeat about US economy than she was two months ago and dairy prices tumbled in the latest GlobalDairyTrade auction. The kiwi traded at 87.69 US cents at 8:30am in Wellington, down from 88.07 US cents in late trading yesterday. The trade-weighted index slipped to 81.59 from 81.86. The kiwi began falling after Yellen delivered her semi-annual testimony to the Senate Banking Committee. While in the testimony itse...

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