NZ dollar little changed vs. greenback after Fonterra forecast; gain vs. AUD on weak capex

Thu, 28 May 2015

By Paul McBeth May 28 (BusinessDesk) - The New Zealand dollar was little changed against the greenback after Fonterra Cooperative Group's forecast 2016 payout largely met expectations, and gained against the Australian dollar after Australian capital expenditure disappointed investors. The kiwi traded at 72.37 US cents at 5pm in Wellington from 72.43 cents at 8am and 72.51 cents yesterday. It rose to 94.23 Australian cents from 93.53 cents yesterday. Fonterra trimmed its forecast payout to farmers this season by 10 cents to $4.40 per k...

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