NZ dollar heads for 2.1 percent weekly gain as Fonterra fears ease, China stokes risk appetite

Fri, 09 Aug 2013

By Paul McBeth Aug. 9 (BusinessDesk) - The New Zealand dollar is heading for a 2.1 percent weekly gain against the greenback as investor concerns about Fonterra Cooperative Group’s food scare ease and as Chinese figures reinvigorate optimism about Australasia’s biggest trading partner. The kiwi slopped to 79.93 US cents at 5pm in Wellington from 80.17 cents at 8am, though up from 79.60 cents yesterday. It started the week at 78.31 cents, slumping to a month-low 76.99 cents at the height of the Fonterra scare. The trade-weighted index advance...

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