NZD higher in early trade on higher milk price forecasts

New Zealand is a small economy which is heavily reliant on the dairy industry. Any change in the milk-price forecast will have an immediate impact. Dairy giant Fonterra has just raised their forecast by NZD0.35/kg and this has helped the NZD/USD to pop back above .8300 and AUD/NZD to test short-term support near 1.0770.

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