The NZD/USD was the weakest performing currency overthe past 24-hours. It sits at 0.8490 this morning.Fonterra announced its forecast payout for the 2014/15season yesterday morning. This came in at $7.00. Inaddition, this season’s forecast was revised down 25c to$8.40. However, the NZD/USD initially experienced a briefrelief rally, as the outcome was likely not as bad as somehad feared. Some had expected next season’s payoutwould begin with a $6.
Read the full report: FX Daily
BNZ