NZ dollar slides as weaker dairy prices weigh on rate outlook, ECB meeting looms

Thu, 03 Apr 2014

By Paul McBeth April 3 (BusinessDesk) - The New Zealand dollar dropped as declining dairy prices raised concern about the country’s biggest export commodity, and fuelled speculation the Reserve Bank might not hike interest rates as aggressively as expected. The kiwi traded at 85.47 US cents at 5pm in Wellington from 85.58 cents at 8am, down from 86.02 cents yesterday. The trade-weighted index dropped to 79.97 from 80.37 yesterday. Traders are questioning whether the Reserve Bank will raise the official cash rate as quickly as anticipated...

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