NZ dollar falls below 80 Australian cents as drought weighs, RBNZ looms

Wed, 13 Mar 2013

By Paul McBeth March 13 (BusinessDesk) - The New Zealand dollar fell below 80 Australian cents for the first time since January as the drought across much of the North Island weighs on investors' confidence in the local recovery, and as the Reserve Bank prepares to review monetary policy tomorrow. The kiwi fell as low as 79.79 Australian cents, and traded at 79.91 cents at 5pm from 80.18 cents yesterday. It was little changed at 82.46 US cents from 82.50 cents at 8am and 82.44 cents yesterday. New Zealand's drought in the North Island has...

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