NZ dollar rises after dairy gains, Wheeler downplays rate-cut prospects

Wed, 04 Feb 2015

By Jonathan Underhill Feb. 4 (BusinessDesk) - The New Zealand dollar rose against most major currencies after the price of whole milk powder jumped in the latest auction, sentiment for the greenback waned and Reserve Bank governor Graeme Wheeler said keeping interest rates on hold for now was more prudent than contemplating a cut. The kiwi traded at 74.07 US cents at 5pm in Wellington, recovering from an overnight slump that sent it as low as 71.75 cents. The trade-weighted index gained to 76.57 from 75.02 late yesterday. A smorgasbord...

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