NZ dollar falls to new 2 1/2-year low as Fonterra payout review looms

Tue, 09 Dec 2014

By Paul McBeth Dec. 9 (BusinessDesk) - The New Zealand dollar fell to a two-and-a-half year low as investors wait for Fonterra Cooperative Group's board to reassess the forecast payout to farmers in the face of falling global dairy prices. The kiwi fell as low as 76.10 US cents, trading at 76.21 US cents at 5pm in Wellington from 76.71 cents at 8am, and 76.43 cents yesterday. The trade-weighted index dropped to 77.19 from 77.48 yesterday. Fonterra's board today met for their quarterly review of the milk price forecast for the current s...

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