NZ dollar falls as Fonterra cuts forecast, US tax reform seen stoking greenback repatriation

Wed, 06 Dec 2017

By Paul McBeth Dec. 7 (BusinessDesk) - The New Zealand dollar fell as Fonterra Cooperative Group cut its forecast farmgate payout on weak global dairy prices, while the greenback was buoyed by the prospect of major US tax reform triggering the repatriation of US dollars. The kiwi declined to 68.76 US cents as at 8am in Wellington from 68.96 cents late yesterday. The trade-weighted index decreased to 72.73 from 72.83 yesterday. Fonterra lowered its forecast payment to farmers by 35 cents to $6.40 per kilogram of milk solids, matching...

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