NZ dollar rises with Fonterra 2016 forecast due tomorrow

Wed, 27 May 2015

By Paul McBeth May 27 (BusinessDesk) - The New Zealand dollar bounced from a two-month low in local trading as investors await the outcome of today's Fonterra Cooperative Group's board meeting, which is expected to have settled the first forecast payout for next season, for release tomorrow. The kiwi rose to 72.50 US cents at 5pm in Wellington from 72.18 cents at 8am, still down from 73.13 cents yesterday. The trade-weighted index declined to 75.88 from 76.15 yesterday. New Zealand's currency fell during Northern Hemisphere trading las...

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