NZ dollar weakens as business sentiment continues to slide, Fonterra payout cut

Wed, 28 May 2014

May 28 (BusinessDesk) - The New Zealand dollar weakened after a survey showed business confidence fell for a third month, while Fonterra Cooperative Group confirmed expectations by cutting its milk payout forecasts for this season and the next. The kiwi was trading at 85.36 US cents at 5pm in Wellington, from 85.38 cents at the start of the day and down from 85.59 cents late yesterday. The trade-weighted index slipped to 79.70 from 79.87 yesterday. New Zealand business confidence extended its slide from a record high to a third month, in...

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