NZ dollar holds above 83 US cents after testing recent range as FOMC awaited

Mon, 10 Dec 2012

Dec. 11 (BusinessDesk) – The New Zealand dollar was little changed above 83 US cents after testing the upper limits of its recent trading range as traders await this week’s meeting of Federal Reserve policymakers. The kiwi dollar traded at 83.36 US cents from 83.31 cents at 5pm in Wellington yesterday. It earlier reached 83.53 cents, a level it hasn’t seriously breached since March. The trade-weighted index fell to 74.57 from 74.64. The New Zealand dollar got a lift yesterday after Fonterra Cooperative Group raised its milk payment forecast...

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