NZ dollar gains as futures market points to rising dairy auction prices

Mon, 17 Oct 2016

By Jonathan Underhill Oct. 17 (BusinessDesk) - The New Zealand dollar rose on expectations that dairy prices will gain at this week's GlobalDairyTrade auction, snapping two consecutive declines for the nation's biggest export commodity. The kiwi rose to 71 US cents as at 5pm in Wellington from 70.84 cents in late New York trading on Friday. The trade-weighted index rose to 76.44 from 76.18. NZX-traded dairy futures are pointing to an increase of about 7 percent in prices at the GDT auction tomorrow night, said Imre Speizer, senior mark...

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