New Zealand Dollar stories
The New Zealand dollar fell against its trans-Tasman counterpart after the Reserve Bank of Australia toned down its rhetoric in calling its currenc.
The New Zealand dollar dropped below a key support level of 77 US cents to touch its lowest in more than a year as it was weighed down by a weaker.
Dick Smith Holdings has seen a slowdown in sales decline in New Zealand due to certain operations being shifted to Australia.
Harvey Norman reports a 4% drop in New Zealand sales, contributing to a 7% decline in group sales to AUD $5.74 billion amid ongoing retail challenges.
The New Zealand dollar followed US stock markets lower after internet search engine Google missed profit estimates.
Intel's stellar Q2 earnings, featuring revenues of USD $10.8 billion, helped push the New Zealand dollar to 72 US cents, its highest in two months.
In order to pass on the benefits of the strength of the New Zealand dollar, Sun Microsystems has dropped its prices.