RESEND: NZ dollar slips as Key says kiwi over-valued, Fonterra forecast looms

Mon, 28 Jul 2014

July 28 (BusinessDesk) - Economists at ASB expect Fonterra to revise down its milk price payout for the 2014/15 season to about $6.20 per kilogram of milk solids, from its initial estimate of $7/kgMS. Falling prices of dairy products are expected to contribute to a sharp decline in the nation's terms of trade from a 40-year high the bank said. Meantime, Key told his post-Cabinet media conference that he concurred with the central bank that the kiwi was too strong, a view expressed by governor Graeme Wheeler when he raised the of...

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