NZ dollar drifts from month-high as Trump unveils budget proposals, Fonterra forecast

Tue, 23 May 2017

By Paul McBeth May 24 (BusinessDesk) - The New Zealand dollar drifted off a month-high as US President Donald Trump unveiled plans to cut government spending, easing some nerves about the White House's ability to press ahead with reforms, while domestically Fonterra Cooperative Group is poised to announce its opening milk price forecast for 2018. The kiwi rose as high as 70.46 US cents and traded at 70.01 cents as at 8am from 70.19 cents yesterday. The trade-weighted index was unchanged at 75.80. Stocks on Wall Street and the US doll...

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