NZ dollar falls on soft jobs data, slumping milk prices

Wed, 05 Aug 2015

By Paul McBeth Aug. 5 (BusinessDesk) - The New Zealand dollar fell as soft employment data and a slump in dairy prices reinforced expectations the Reserve Bank will continue to lower the official cash rate, while comments from a US Federal Reserve official firmed up the prospect for higher interest rates in the US. The kiwi declined to 65.22 US cents at 5pm in Wellington from 65.33 cents at 8am and 65.63 cents yesterday. The trade-weighted index dropped to 69.67 from 69.96 yesterday. Traders are pricing in a 78 percent chance the Reser...

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