NZ dollar gains on higher inflation expectations; dairy auction looms

Tue, 19 May 2015

By Paul McBeth May 19 (BusinessDesk) - The New Zealand dollar gained after the Reserve Bank's survey of inflation expectations showed firms raised their projections for consumer prices in the coming two years, ahead of the latest GlobalDairyTrade auction, which will provide a gauge on the health of the country's biggest export. The kiwi rose to 74.18 US cents at 5pm in Wellington from 73.73 cents at 8am, and little changed from 74.33 cents yesterday. The trade-weighted index was at 76.38 from 76.29 yesterday. The local currency rallied...

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