NZ dollar holds gains as Aust capex beats expectations, Fonterra buoys sentiment

Thu, 28 Aug 2014

By Paul McBeth Aug. 28 (BusinessDesk) - The New Zealand dollar held gains today after Australian capital expenditure figures beat expectations, adding to optimism about the local economy after Fonterra Cooperative Group affirmed its forecast payout to farmers and signed up to a deal to distribute its products into China. The kiwi rose to 83.91 US cents at 5pm in Wellington from 83.75 cents at 8am and 83.67 cents yesterday. The trade-weighted index was 79.06 from 79 yesterday. Australian capital expenditure rose 1.1 percent in the secon...

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