NZ dollar buoyed by Fonterra plans to expand capacity, form Chinese partnership

Wed, 27 Aug 2014

By Tina Morrison Aug. 28 (BusinessDesk) - The New Zealand dollar rose after Fonterra Cooperative Group yesterday said it would maintain its milk price forecast, expand its local processing capacity and form a partnership to help sell its products in China, New Zealand's largest trading partner. The kiwi gained to 83.75 US cents at 8am in Wellington, from 83.67 cents at 5pm yesterday. The trade-weighted index was at 78.98 from 79 yesterday. The local currency has jumped half a US cent in the past 24 hours following the announcement from...

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