The kiwi dropped as low as 54.53 pence, the lowest since September 1, and was trading at 54.80 pence at 8am in Wellington from 55.75 pence yesterday. It declined to 65.57 euro cents from 65.82 cents yesterday. The kiwi rose to 70.41 US cents from 70.06 cents yesterday as the greenback fell against most major currencies in the shadow of the pound's ascendancy. Dairy prices rose at the latest GlobalDairyTrade auction, with whole milk powder prices, New Zealand's key export product, rising 3.5 per cent to US$2,998 a tonne. The kiwi rose to 93.10 Australian cents from 92.70 cents yesterday and gained to 4.8427 Chinese yuan from 4.8261 yuan.

Source: New Zealand Herald April 18, 2017 21:00 UTC