RESEND: NZ dollar drops to 5-month low as market awaits policy details of new government

Thu, 19 Oct 2017

(Adds dropped word in fourth paragraph) By Jonathan Underhill Oct. 20 (BusinessDesk) - The New Zealand dollar fell about 2 percent to a five-month low after the NZ First Party opted to form a coalition with Labour, bringing in a government that has vowed to reduce migration, potentially putting a brake on one of the nation's economic drivers. The New Zealand dollar was trading at 70.08 US cents as at 8:30am in Wellington from 71.29 cents yesterday, before the announcement on the new government. The trade-weighted index fell to 73.79 fr...

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