NZD Follows Food Prices in Decline

The New Zealand dollar fluctuated against the US dollar and dropped against the Japanese yen after the report showed that food prices in New Zealand fell last month. The Food Price Index declined 1.3 percent in August. The decline followed the 2.0 percent increase in the previous month. Year-on-year, the prices rose 6.6 percent. Currently, the kiwi, as the New Zealand currency is often nicknamed, strives to regain its strength. NZD/USD traded near its opening level of 0.8230 as of 12:21 GMT today, following the drop to 0.8179. NZD/JPY rebounded to 63.31 after falling from 63.50 to 62.94