NZ dollar gains as investors predict overnight bounce in dairy prices

Tue, 18 Aug 2015

By Paul McBeth Aug. 18 (BusinessDesk) - The New Zealand dollar extended gains in local trading ahead of the overnight Tuesday GlobalDairyTrade auction, which is expected to see the first price rise for dairy commodities since early March. The kiwi rose to 65.91 US cents at 5pm in Wellington from 65.66 cents at 8am and 65.38 cents yesterday. The trade-weighted index advanced to 71.07 from 70.31 yesterday. Dairy futures contracts on the NZX suggest whole milk powder prices will rise at the GDT auction due to held early Wednesday morning...

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