NZ dollar recovers on weaker greenback, despite dairy price fall

Wed, 01 Apr 2015

By Tina Morrison April 2 (BusinessDesk) - The New Zealand dollar rebounded from overnight weakness as prices fell in the latest GlobalDairyTrade auction, with softer US data weighing on the greenback. The kiwi slipped to a two-week low of 73.90 US cents overnight, and was trading at 74.44 cents at 8am in Wellington, from 74.75 cents at 5pm yesterday. The trade-weighted index fell to 78.25 from 78.47 yesterday. Prices for dairy products, New Zealand's largest commodity export, declined an average 10.8 percent in the latest GlobalDairyTr...

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