Kiwi under pressure on weak employment growth and lower dairy prices
Posted on August 5, 2015 at 11:20 am GMTThe New Zealand dollar touched a new 6-year low earlier on Wednesday, dropping to 0.6517 against the US dollar. A modest recovery in oil prices and an aussie rally provided only limited support to the kiwi as weak employment data and another drop in the global dairy price index weighed on the currency. Employment in the second quarter rose by just 0.3% in New Zealand, against expectations of a 0.5% rise. This was down on the first quarter’s 0.7% growth. [..]