NZ dollar reverses overnight gain on weaker dairy price concerns

Thu, 26 Mar 2015

By Tina Morrison March 27 (BusinessDesk) - The New Zealand dollar fell as dairy futures weakened, raising concern about the outlook for the country's largest export commodity. The kiwi slipped to 75.64 US cents at 8am in Wellington, after touching a high of 76.63 cents about 11pm last night, and from 75.79 cents at 5pm yesterday. The trade-weighted index slipped to 78.96 from 79.03 yesterday, after touching a high of 79.59 overnight. The kiwi reversed its initial gain overnight as NZX whole milk powder futures declined when trading res...

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