Kiwi extends gains on projected rise in dairy prices

Source: WBP Online
© ScanPix/Reuters
The New Zealand Dollar advanced against its US counterpart on Tuesday ahead of Fonterra's dairy auction, which will be followed by a public speech of Fed's Chair Janet Yellen. The NZD/USD pair added 0.76% to trade at $0.6837 by 08:05 AM GMT, recovering from Monday's low of $0.6780. The Kiwi benefited from rising prices of dairy products, as New Zealand is one the world's major milk producers.  
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