New Zealand Dollar Down Late as Commodity Prices Weigh

 
   By Lucy Craymer 
 

        WELLINGTON--The New Zealand dollar is trading lower against the U.S. dollar as concerns about commodity prices continue to weigh on the currency.
        "Despite the commodity uplift in prices such as oil today, that's still what is dominating markets and they're looking at Australia and New Zealand and saying you are still very exposed to commodities," said ANZ senior manager of currency Sam Tuck. He added this concern was weighing on the New Zealand dollar.
        He added that news of hostage situation in Sydney was having little impact on the pair. "Markets are watching wary that it develops into anything more but markets are really scared about the commodity prices at the moment."
        Armed police have shut down central Sydney after a suspected gunman and possibly accomplices took several people hostage in a cafe and placed an Islamic flag in the window, sparking concerns a terrorist attack was under way.
        In late Wellington trading, the New Zealand dollar was at US$0.7745 versus US$0.7798 late Friday. It was at A$0.9420, compared with A$0.9425 Friday.
        Write to Lucy Craymer at lucy.craymer@wsj.com, @lucy_craymer
        (END) Dow Jones Newswires

        December 14, 2014 23:10 ET (04:10 GMT)
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