NZ dollar slips below 83 US cents on fall in dairy prices, upbeat US data

Tue, 02 Sep 2014

By Tina Morrison Sep. 3 (BusinessDesk) - The New Zealand dollar dipped below 83 US cents for the first time since February as manufacturing data pointing to a recovery in the US strengthened the greenback while a decline in dairy prices at Fonterra Cooperative Group's latest auction weighed on the kiwi. The local currency touched a low of 82.89 US cents, and was trading at 83.14 cents at 8am in Wellington, from 83.46 cents at 5pm yesterday. The trade-weighted index was at 78.79 from 79.02 yesterday. The US dollar index, which measures...

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