NZ dollar hits 4-week high vs. A$ after weak Australian capex, Fonterra hikes farmgate payout

Thu, 27 Feb 2014

By Paul McBeth Feb. 27 (BusinessDesk) - The New Zealand dollar rose to a four-week high against its trans-Tasman counterpart as weaker-than-expected capital spending figures in Australia added to a string of disappointing data. The kiwi also rose after Fonterra Cooperative Group hiked its forecast milk payout. The kiwi rose as high as 93.16 Australian cents, the highest since Jan. 31, trading at 93.11 cents at 5pm in Wellington from 92.47 cents yesterday. The local currency rose to 83.22 US cents at 5pm from 82.90 cents at 8am, down from 83...

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