The New Zealand dollar fell as Fonterra cut its forecast farmgate payout on weak global dairy prices. Meanwhile the greenback was buoyed by the prospect of major US tax reform triggering the repatriation of US dollars. The kiwi declined to US68.76c as at 8am in Wellington from US68.96c late on Wednesday. The trade-weighted index decreased to 72.73 from 72.83. Fonterra lowered its forecast payment to farmers by 35 cents to $6.40 per kilogram of milk solids, matching economists' expectations for a reduced payout after several subdued auctions on the GlobalDairyTrade platform. New Zealand property values also crept up ... (full story)