NZ dollar gains, shrugging off drop in dairy prices, as US dollar weakness prevails

Tue, 02 Jun 2015

By Tina Morrison June 3 (BusinessDesk) - The New Zealand dollar rose even after dairy product prices unexpectedly fell in the latest GlobalDairyTrade auction, as the US dollar dropped on concern about weakness in the world's biggest economy. The kiwi jumped to 71.73 US cents at 8am in Wellington, from 71.13 cents at 5pm yesterday. The trade-weighted index advanced to 74.90 from 74.68 yesterday. The dollar index, which measures the greenback against a basket of currencies, fell after a report showed new orders for US factory goods unexp...

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