NZ dollar little changed after dairy prices fall at auction as expected

Tue, 17 Nov 2015

By Tina Morrison Nov. 18 (BusinessDesk) - The New Zealand dollar held its ground as prices declined at the overnight GlobalDairyTrade auction as expected. The kiwi was at 64.67 US cents at 8am in Wellington, from 64.58 cents at 5pm yesterday. The trade-weighted index was at 70.69 from 70.64. Dairy product prices fell for a third consecutive time in the latest GlobalDairyTrade auction amid an increase in international supply and a subdued outlook. The GDT average winning prices dropped 7.9 percent from the previous fortnightly auction, ...

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