NZ dollar gains ahead of dairy auction expected to show further price gains

Tue, 06 Dec 2016

By Jonathan Underhill Dec. 6 (BusinessDesk) - The New Zealand dollar gained on expectations prices will rise in tonight's GlobalDairyTrade auction, adding to the positive story of the domestic economy. The kiwi dollar rose to 71.33 US cents as at 5pm in Wellington from 70.98 cents late yesterday. The trade-weighted index edged up to 78.20 from 78.10. Whole milk powder may rise 3.4 percent, the fourth straight gain for New Zealand's key commodity export at tonight's dairy auction, based on pricing of NZX dairy futures. The Reserve Bank...

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