NZ dollar sinks as weak US jobs data saps global risk sentiment, dairy prices fall in Fonterra auction

Wed, 01 May 2013

By Paul McBeth May 2 (BusinessDesk) - The New Zealand dollar dropped by more than half a US cent as weaker than expected private payrolls figures in the US eroded investors' appetite for higher yielding assets. The kiwi may extend its decline after dairy prices sank in the latest auction GlobalDairyTrade auction. The kiwi fell to 84.92 US cents from 85.73 cents at 5pm in Wellington yesterday. The trade-weighted index sank to 78 from 78.65. Analysts pared back their expectations for official employment data in the US on Friday after ADP rep...

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