NZ dollar extends gains after inflation data, dairy auction

Tue, 18 Oct 2016

By Jonathan Underhill Oct. 19 (BusinessDesk) - The New Zealand dollar extended its gains after stronger-than-expected third-quarter inflation and the first increase in whole milk powder prices in three GlobalDairyTrade auctions. The local currency rose to 71.94 US cents as at 8:30am in Wellington from 71.85 cents late yesterday. The trade-weighted index edged up to 77.16 from 77.10. The GDT price index rose 1.4 percent to US$2,965 in the GDT auction, with whole milk powder rising 2.9 percent to US$2,760 a tonne, a move broadly in line...

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