NZ dollar gains on expectations dairy auction will deliver another price increase

Tue, 20 Sep 2016

By Paul McBeth Sept. 20 (BusinessDesk) - The New Zealand dollar gained ahead of a GlobalDairyTrade auction which is expected to deliver another increase in whole milk powder prices. The kiwi rose to 73.23 US cents at 5pm in Wellington from 72.88 cents at 8am and 72.97 cents yesterday. The trade-weighted index increased to 78.09 from 77.86. The local currency has been buoyed by the prospect of a fifth successive gain for whole milk powder on Fonterra Cooperative Group's GDT platform, bolstering already growing optimism about the stren...

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