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The dollar has fallen by approximately five percent against the British pound and the Japanese yen; by nearly 10 percent against the euro and the Canadian and Australian dollars; and by 14 percent against the New Zealand dollar. The New Zealand dollar was floated, the reduction of tariffs was started, and, overnight, all farm subsidies terminated. New Zealand dairy producers could see a 32% drop in their payout rates due to the strengthening New Zealand dollar, reports Susan Murray, our Kiwi World Watch correspondent. |
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