NZ dollar little changed after Fonterra raises forecast, Federal Reserve meeting looms

Tue, 30 Jul 2013

By Tina Morrison July 31 (BusinessDesk) – The New Zealand dollar is little changed after Fonterra Cooperative Group hiked its 2014 forecast payout and ahead of a statement today which may provide further clues on when the US Federal Reserve is likely to pare back monetary policy stimulus. The kiwi was little changed at 79.85 US cents, from 79.92 cents at the 5pm market close in Wellington yesterday. The trade-weighted index was little changed at 75.50 from 75.55 yesterday. Fonterra, the world's biggest dairy exporter, lifted its forecast mi...

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