NZ dollar rises on lift in dairy prices

By Gavin Evans | Wed, 20 Nov 2019


The New Zealand dollar pushed back above 64 US cents, with the fifth straight increase in dairy auction prices outweighing growing doubts that an interim US-China trade deal will be settled any time soon. The kiwi was trading at 64.26 US cents at 8am from 63.90 cents at 5pm. The trade-weighted index was at 70.99 from 70.66. The Global Dairy Trade index rose 1.7 percent at the latest auction overnight and is now at its highest since May. Whole milk powder, a core product for Fonterra, rose 2.2 percent to US$3,321 a tonne, its highest aucti...