NZ dollar may weaken in first quarter, offering relief to onion growers, seasonal exporters

Mon, 06 Jan 2014

By Tina Morrison Jan. 7 (BusinessDesk) – The New Zealand dollar may weaken in the first quarter of 2014, benefiting seasonal commodity exporters gearing up for the harvest, such as onion growers. The kiwi, which recently traded at 82.88 US cents, is likely to slip to 81.50 cents by the end of March, according to the median forecast of 11 currency traders and strategists in BusinessDesk’s quarterly survey of the New Zealand dollar. Many onion exporters are taking forward cover now to fix currency rates for their overseas sales, which amount t...

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