NZ dollar tests 84.50 US cents overnight after "significant' fall in dairy prices

Tue, 05 Aug 2014

By Tina Morrison Aug. 6 (BusinessDesk) - The New Zealand dollar may break through its key 84.50 US cent support level as investors exit the kiwi on concern a significant drop in global dairy prices will weigh on economic growth, amid increasing demand for the greenback. The kiwi tested its 200-day moving average of 84.50 US cents overnight but failed to break through. The local currency fell to 84.68 US cents at 8am in Wellington, from 85.21 cents at 5pm yesterday. The trade-weighted index dropped to 79.41 from 79.76 yesterday. The US...

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