NZ Dollar Outlook: Kiwi may decline as reduced dairy payout hurts sentiment

Mon, 26 May 2014

By Tina Morrison May. 26 (BusinessDesk) - The New Zealand dollar may decline this week as weaker dairy prices are expected to see Fonterra Cooperative Group pull back its forecast payout to farmers. The local currency may trade between 84.30 US cents and 86.50 cents this week, according to a BusinessDesk survey of 10 traders and strategists. Seven predict the kiwi will fall this week, while three expect it to increase. It recently traded at 85.32 US cents. Reserve Bank governor Graeme Wheeler told a dairy farmers' confer...

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