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6 Jan 2015
NZD/USD moves toward 0.7800 as dairy prices rise
FXStreet (Córdoba) - NZD/USD gained momentum after the latest GDT auction that showed an increase in the index of 3.6%, above expectations.
The pair recently climbed to 0.7792, hitting the strongest level since December 31. Price remains near the highs and the 0.7800 area. During the last three hours it has risen more than 70 pips, after rebounding at 0.7720.
The Fonterra dairy action results pushed the kiwi to the upside across the board. AUD/NZD dropped to record lows at 1.0409, after losing a hundred pips during the American session.
The pair recently climbed to 0.7792, hitting the strongest level since December 31. Price remains near the highs and the 0.7800 area. During the last three hours it has risen more than 70 pips, after rebounding at 0.7720.
The Fonterra dairy action results pushed the kiwi to the upside across the board. AUD/NZD dropped to record lows at 1.0409, after losing a hundred pips during the American session.