The New Zealand dollar fell after Reserve Bank governor Graeme Wheeler said he may intervene in currency markets if the kiwi stays strong in the face of falling dairy prices. The local currency dropped to 86.89 US cents from 87.41 cents immediate before the speech, 87.47 cents at 8am and 86.91 cents yesterday. The trade-weighted index fell to 80.43 from …

Dairy product prices recorded their sixth straight decline in the latest GlobalDairyTrade auction, returning to levels of a year ago and adding to expectations Fonterra Cooperative Group will trim its forecast for a record milk payout. The GDT price index fell 1.1 percent to US$3,950 a tonne, from US$4,047 a tonne two weeks ago, the lowest since February 2013. Some …

Maurice Williamson has resigned as minister of building, land information, customs and statistics after revelations he called a high-ranking police officer in connection with Chinese businessman Donghua Liu, who had been arrested on domestic violence charges. Williamson had previously lobbied ministerial colleagues to grant citizenship to Liu, who was behind a $70 million development in Newmarket, Auckland, the Herald reported. …