NZ dollar sinks to 5-day low, may extend slide after drop in dairy prices

Wed, 21 Oct 2015

By Jonathan Underhill Oct. 21 (BusinessDesk) - The New Zealand dollar fell to a five-day low, and may extend its decline, after dairy prices fell for the first time in five auctions on the GlobalDairyTrade platform. The kiwi fell to 67.50 US cents as at 5pm in Wellington, from 68.07 cents late yesterday. The trade-weighted index declined to 72.35 from 72.94 yesterday. Dairy product prices fell 3.1 percent overnight, based on the GDT Price Index and whole milk powder, the biggest product by volume, fell 4.6 percent. In the four previous...

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