NZ dollar heads for 4.2% decline in 2014, reflecting weaker dairy prices, stronger greenback

Wed, 31 Dec 2014

By Tina Morrison Dec. 31 (BusinessDesk) - The New Zealand dollar is heading for a 4.2 percent decline this year, pulled down by a drop in dairy prices, the country's largest commodity export, and a stronger greenback as the US economy recovers. It may gain next year as the local economy outperforms its peers. The kiwi traded at 78.44 US cents at 3:30pm in Wellington from 81.91 cents at the start of the year. The expanded trade-weighted index advanced to 79.40, having started the year at 77.86. The kiwi soared close to its post-float re...

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