NZ dollar dips back below 70 US cts after dairy prices fall, economic data looms

Tue, 19 Dec 2017

By Paul McBeth Dec. 20 (BusinessDesk) - The New Zealand dollar dipped back below 70 US cents after prices unexpectedly fell at the latest GlobalDairyTrade auction, raising doubts about Fonterra Cooperative Group's forecast payout to farmers. The kiwi traded at 69.90 US cents as at 8am in Wellington having crept up to 70.18 cents in overnight trading, to leave it little changed from 69.93 cents yesterday. The trade-weighted index was at 73.69 from 73.79 yesterday. The GDT price index dropped 3.9 percent to US$2,969 at the overnight au...

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