NZ dollar gains amid expectations of strong dairy auction

Tue, 16 Aug 2016

By Jonathan Underhill Aug. 16 (BusinessDesk) - The New Zealand dollar gained along with other commodity-linked currencies as prices of raw materials rose and traders speculated the dairy auction tonight will deliver another strong gain for whole milk powder. The kiwi dollar rose to 72.26 US cents at 5pm in Wellington from 71.75 cents late yesterday. The trade-weighted index climbed to 76.36 from 76.07. Dairy futures suggest whole milk powder will rise about 10 percent in tonight's auction, adding to a 10 percent gain in the last sale t...

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