NZ dollar falls below 70 US cents on Fed rate-hike plans, bets on weak dairy auction

Mon, 06 Mar 2017

By Jonathan Underhill March 7 (BusinessDesk) - The New Zealand dollar fell below 70 US cents, reaching an eight-week low on expectations of Federal Reserve rate hikes starting this month and ahead of a dairy auction that the futures market is predicting will see prices fall. The kiwi dollar traded at 69.95 US cents as at 8am in Wellington, having fallen to 69.84 cents, the lowest since Jan. 12, from 70.11 cents late yesterday. The trade-weighted index fell to 76.59, the lowest since last October, from 76.74. NZX dairy futures are point...

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