Tue, 19 Aug 2014 14:01:03 GMT
Kiwi slips on New Zealands fiscal update
The New Zealand Dollar contracted against the Greenback, after government changed output growth forecast. The revised forecast predicts output growth rate at 3.8%, instead of 4% as estimated before. The Kiwi is experiencing continuous decline after it's peak in July, led by a drop in producer prices and uncertainty over dairy export demand. Nevertheless, New Zealand grow rate is still