NZ dollar gains on US data, stock gains; Fonterra lifts payout

Tue, 26 Mar 2013

March 27 (BusinessDesk) – The New Zealand dollar rose as better US housing and durable goods data helped boost risk appetite and stocks on Wall Street, while at home Fonterra Cooperative Group lifted its forecast payout to farmers. The kiwi dollar rose to 83.91 US cents from 83.45 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 77.01 from 76.61. Fonterra lifted its farmer payout forecast to $5.80 per kilogram of milk solids from $5.50, saying the increase reflected gains in global dairy commodities in the past two mont...

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