NZ dollar gains after dairy auction, China stimulus; touches post-float high vs. Aussie

NZ dollar gains after dairy auction, China stimulus; touches post-float high vs. Aussie
By Tina Morrison Jan. 7 (BusinessDesk) - The New Zealand dollar rose after lower volumes helped push up prices at Fonterra Cooperative Group's GlobalDairyTrade auction overnight. The kiwi touched a fresh post-float high against the Australian dollar as investors favour the outlook for the local economy. The kiwi increased to 77.92 US cents at 8am in Wellington, from 77.28 cents at 5pm yesterday. The local currency touched 96.22 Australian cents, its highest since the Aussie was floated in 1983, and was trading at 95.95 cents at 8am from 9...