NZ dollar slips as Opec production curbs disappoint, driving decline in commodity-linked currencies

Thu, 25 May 2017

By Jonathan Underhill May 26 (BusinessDesk) - The New Zealand dollar fell after the Organisation of Petroleum Exporting Countries agreed to extend production curbs that didn't go as far as the market had expected, driving down the price of crude oil and weighing on commodity-linked currencies. The kiwi fell to 70.23 US cents as at 8am in Wellington from 70.41 cents late yesterday. The trade-weighted index was little changed at 75.95 from 75.98 yesterday. Opec and producers such as Russia agreed overnight to extend curbs on oil output...

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