NZ dollar gains after milk prices jump more than expected

Tue, 16 Aug 2016

By Paul McBeth Aug. 17 (BusinessDesk) - The New Zealand dollar climbed after dairy prices rose more than expected at the latest GlobalDairyTrade auction, clawing back losses after a Federal Reserve official raised the prospect of an early US rate hike. The kiwi rose to 72.70 US cents at 8am from 72.26 cents yesterday. The trade-weighted index advanced to 76.72 from 76.07 yesterday. The local currency dropped from as high as 73.04 US cents after New York Federal Reserve president William Dudley said the world's biggest central bank co...

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