NZ dollar may gain on expectations Fonterra will increase forecast payout to farmers

Tue, 28 May 2013

By Tina Morrison May 29 (BusinessDesk) – The New Zealand dollar may rise on expectations Fonterra, the nation’s largest exporter, will raise its forecast payout to farmers. The kiwi was little changed at 80.82 US cents, from 80.81 cents at 5pm yesterday. The trade-weighted index edged up to 76.55 from 76.38 yesterday. Fonterra, which is the world’s largest dairy exporter, is expected to announce its payout for the 2014 season today after its board of directors met yesterday. An increase would put more cash in the hands of farmers and provide...

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