UPDATE: NZ dollar drops near five-month low as NZ First backs Labour-led govt

Thu, 19 Oct 2017

(Adds comment from Labour leader Jacinda Ardern) By Sophie Boot and Paul McBeth Oct. 19 (BusinessDesk) - The New Zealand dollar fell near a five-month low after NZ First leader Winston Peters said he would support a Labour-led government, saying the nation voted for change, and that capitalism needs to regain its "human face". The kiwi dropped as low as 70.37 US cents, the lowest since May 30, and was trading at 70.45 cents as at 8.30pm from 70.94 cents before Peters started his briefing. The local currency started declining amid repo...

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