NZ dollar gains as dairy auction exceeds expectations, lifting optimism about payout

Tue, 15 Sep 2015

By Jonathan Underhill Sept. 16 (BusinessDesk) - The New Zealand dollar gained against a broadly stronger greenback after prices rose more than expected in the latest GlobalDairyTrade auction, stoking speculation Fonterra Cooperative Group may lift its forecast milk payout from a decade-low. The kiwi rose to 63.51 US cents from 63.10 cents late yesterday, rebounding from an earlier dip that had been driven by a stronger US dollar after US retail sales rose. The trade-weighted index rose to 68.80 from 68.28. The GDT average winning price...

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