Dry conditions cause some concern

Key highlights   The NZD traded in a wide range last week, and lifted 2.1% . The overall strengthening of the NZD offset gains in USD commodity prices and caused a drop in the ASB Commodity Price Index in NZD terms.         Report prepared by: Chris Tennent-Brown Economist Phone: +64 9 374 8819 Fax: +64 9 302 0992