NZ dollar gains as futures market points to pick up in dairy prices, US holiday looms

Wed, 25 Nov 2015

By Paul McBeth Nov. 25 (BusinessDesk) - The New Zealand dollar gained as dairy futures indicated global dairy prices may have found a base, easing pressure on the Reserve Bank to cut interest rates in response to a slump in the country's biggest export. The kiwi rose to 65.78 US cents at 5pm in Wellington from 65.34 cents at 8am and 65.24 cents yesterday. The trade-weighted index advanced to 71.30 from 71.02 yesterday. Dairy futures pricing has been pointing a rise in milk product prices after recent declines at the GlobalDairyTrade...

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