NZ dollar falls after dairy auction as ANZ downgrades milk forecast; CPI boost shortlived

Tue, 17 Oct 2017

By Jonathan Underhill Oct. 18 (BusinessDesk) - The New Zealand dollar fell after prices dropped in the latest dairy auction, prompting ANZ Bank New Zealand to downgrade its milk payout forecast, while gains in the kiwi after stronger inflation data proved to be short-lived. The local currency traded at 71.66 US cents as at 8am in Wellington, having fallen as low as 71.45 cents after the dairy auction, from 71.64 cents late yesterday. The trade-weighted index rose to 75.52 from 75.39 yesterday. ANZ Bank lowered its milk price forecast t...

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