NZ dollar heading for weekly drop of 2.5% on uncertainty over new govt

Fri, 20 Oct 2017

By Rebecca Howard Oct. 20 (BusinessDesk) - The New Zealand dollar continued to fall and was headed for a weekly drop of 2.5 percent as investors digest news that Jacinda Ardern will be the next prime minister after NZ First leader Winston Peters said he would support a Labour-led government. The kiwi dollar was trading at a fresh five-month month low of 69.92 US cents versus 71.29 cents before the announcement on the new government yesterday. The trade-weighted index fell to 73.71 from 75.18. Investors are nervous due to the lack of...

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