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NZD tumbles further with tomorrow's GDT auction in the frame
Not good times for the Kiwi $ We've fallen further in Europe to post 6-week lows of 0.6485 with AUDNZD rising to 1.0960, just above Friday's 1 month high of 1.0950. More res seen into 1.1000 Tomorrow's Global Dairy Trade auction is expected to produce lower price for the 3rd consecutive time with a 7.4% fall last time Earlier in Asia Fonterra increased its earnings per share forecast range which Eamonn posted on here, and initially lent some support but NZDUSD ran into offers/res at 0.6540 and AUDNZD found bids at 1.0835 Adam had this on Fonterra/GDT at the week-endNot good times for the Kiwi $ We've fallen further ... (full story)
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