NZ dollar weakens on gloomy business confidence, weaker dairy prices

Tue, 02 Apr 2019

By Rebecca Howard April 3 (BusinessDesk) - The New Zealand dollar opened weaker, as dour business confidence added to the prospects of a domestic rate cut and as whole milk powder prices dipped overnight. The kiwi was trading at 67.43 US cents at 8am versus 67.76 US cents at 5pm in Wellington. The trade-weighted index was at 73.31 from 73.62. Yesterday's quarterly survey of business opinion from the New Zealand Institute of Economic Research - seen as a key input in the Reserve Bank's projections - has local economists convinced tha...

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