NZ dollar falls to two-month low after fiscal update shows weaker growth

Wed, 23 Aug 2017

By Jonathan Underhill Aug. 24 (BusinessDesk) - The New Zealand dollar fell, touching a two-month low, after the pre-election fiscal showed weaker economic growth and smaller Budget surpluses. The kiwi declined to 72.25 US cents as at 8am in Wellington and earlier dropped as low as 71.95 cents, a level it hasn't broken through since mid-June, from 72.31 US cents late yesterday. The trade-weighted index fell to 76 from 76.18. The forecasts showed a bigger surplus for the 2017 financial year, largely at the expense of out-years and scaled...

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