NZ dollar little changed ahead of Fonterra milk auction

Tue, 16 Dec 2014

By Paul McBeth Dec. 16 (BusinessDesk) - The New Zealand dollar was little changed ahead of the next GlobalDairyTrade auction, the first since dairy exporter Fonterra Cooperative Group slashed its forecast payout for the current season in the face of falling milk prices. The kiwi traded at 77.45 US cents at 5pm in Wellington from 77.32 cents at 8am and 77.43 cents yesterday. The trade-weighted index was little changed at 77.90 from 78.04 yesterday. Fonterra holds its first GDT auction since cutting its forecast payout to its farmer shar...

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