NZ dollar recovers ground after surprise Key resignation; dairy auction awaited

Mon, 05 Dec 2016

By Jonathan Underhill Dec. 6 (BusinessDesk) - The New Zealand dollar regained the ground shed after the shock resignation of Prime Minister John Key as traders await tonight's GlobalDairyTrade auction that's expected to produce another increase in milk powder prices. The kiwi dollar rose to 71.35 US cents as at 8am in Wellington from 70.98 cents late yesterday. The trade-weighted index was little changed at 78.14 from 78.10. The New Zealand dollar initially fell and stocks declined after Key's resignation yesterday, although little pol...

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