NZ dollar gains ahead of dairy auction; inflation data awaited

Mon, 17 Oct 2016

By Jonathan Underhill Oct. 18 (BusinessDesk) - The New Zealand dollar rose ahead of tonight's GlobalDairyTrade auction amid expectations prices will rise after two consecutive declines, helping sentiment for the kiwi. The local currency rose to 71.23 US cents as at 8am in Wellington from 71 cents late yesterday. The trade-weighted index rose to 76.63 from 76.44. NZX-traded dairy futures are pointing to an increase in prices at the GDT auction tonight, with Fonterra Cooperative Group putting up smaller volumes and squeezing supply. This...

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