BLBG:New Zealand Currency Drops Versus U.S. Dollar After S&P Cuts Credit Rating
New Zealand’s dollar dropped versus its U.S. counterpart after Standard & Poor’s cut the country’s credit rating.
The so-called kiwi fell as low as 76.57 U.S. cents before trading at 76.79 cents at 1:33 p.m. in Wellington. It closed at 77.10 cents in New York yesterday.
To contact the reporter on this story: Benjamin Purvis in Sydney at bpurvis@bloomberg.net
To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net
