21.10.2015 - The New Zealand dollar can change the local positive trend to negative
The price of the New Zealand dollar showed a sharp decline amid the weakening of the Australian dollar and the fall in commodity prices, but the main factor today were the news about lowering the long-term rating of Fonterra by the agency Fitch. Thus, the rating of the world's largest exporter of dairy products has been downgraded to "AA-" from "A" before. We recall that dairy products are the main export item in New Zealand. The growth potential of the New Zealand dollar in the near future is limited by the level of 0.70, and we expect falling prices in the medium term.