NZ dollar gains after Fonterra raises payout forecast, Guoxin commits to Christchurch investments

Thu, 24 Sep 2015

By Jonathan Underhill Sept. 24 (BusinessDesk) - The New Zealand dollar rose after Fonterra Cooperative Group lifted its forecast payout to farmers, reducing the prospects of the rural sector slowing the economy, and after China's Guoxin International Co committed to raising some $3 billion to invest in the rebuild of Christchurch. The kiwi rose to 62.91 US cents as at 5pm in Wellington, from 62.63 cents late yesterday. The trade-weighted index rose to 68.67 from 68.19 immediately before the Fonterra announcement and from 68.25 yesterday....

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