CORRECT NZ dollar gains as Fonterra lifts forecast payout, Chinese manufacturing gives hope

Mon, 10 Dec 2012

(Corrects third paragraph to show reference to net profit) By Paul McBeth Dec. 10 (BusinessDesk) - The New Zealand dollar gained after Fonterra Cooperative Group lifted its forecast payout to farmers next year on rising dairy prices, and after Chinese manufacturing figures on the weekend gave investors heart about the strength of the world's second-biggest economy. The kiwi rose to 83.32 US cents at 5pm in Wellington from 83.12 cents at 8.30am and 83.24 cents on Friday in New York. The trade-weighted index advanced to 74.63 from 74.51 last...

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