NZ dollar holds gains ahead of dairy auction as yen remains weak

Tue, 18 Nov 2014

By Jonathan Underhill Nov. 18 (BusinessDesk) - The New Zealand dollar held its gains ahead of the GlobalDairyTrade auction as traders ponder the prospects for prices to bottom out for the nation's biggest export commodity. The kiwi dollar rose to 79.34 US cents from 79.18 cents at the start of the day and from 79.58 cents yesterday. It traded at 92.52 yen from 92.23 yen yesterday. At the last dairy auction two weeks ago, whole milk powder rose while the prices of most other powders declined, sending the GDT price index lower. Fonterra...

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