NZ dollar pares yesterday's gains to be little changed after disappointing dairy auction

Tue, 20 Sep 2016

By Jonathan Underhill Sept. 21 (BusinessDesk) - The New Zealand dollar was little changed, paring its overnight gains after prices rose less than expected in the latest GlobalDairyTrade auction. The kiwi rose to 73.18 US cents as at 8am in Wellington, having reached as high as 73.58 cents ahead of the auction, from 73.23 cents late yesterday. The trade-weighted index followed a similar pattern and was recently at 78.05 from 78.09 yesterday. The GDT price index rose 1.7 percent to US$2,975, much less than the 5-to-10 percent gain antici...

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