NZ dollar gains after Fonterra raises payout forecast; Fed's Yellen to speak on inflation

Thu, 24 Sep 2015

By Paul McBeth Sept. 25 (BusinessDesk) - The New Zealand dollar rose after Fonterra Cooperative Group hiked its forecast payout to farmers for the current season, alleviating fears about the impact a slowing dairy sector would have on the local economy, and ahead of a speech by Federal Reserve chair Janet Yellen. The kiwi gained to 63.56 US cents at 8am in Wellington from 62.91 cents yesterday. The trade-weighted index advanced to 69.28 from 68.67 yesterday. New Zealand economists lowered their view on the chances for a rate cut at the...

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