Fonterra Cooperative Group Ltd., the world’s largest dairy exporter, refrained from raising its projected payout to farmers even as China drives a surge in demand for milk, saying higher prices are hurting profits.
Fund managers and electronic traders for the first time account for more than half the $5.3 trillion- a-day currency market as regulators investigate at least 11 dealers for alleged collusion on benchmark rates.
Currency traders are starting to price in a greater chance of the Australian dollar plunging to parity against its New Zealand counterpart for the first time as interest rates diverge in the two nations.
Australia’s dollar rebounded from an almost three-month low against the greenback after data showed business investment unexpectedly grew, reducing pressure on the Reserve Bank of Australia to ease policy.
The yen fell to a four-year low against the euro and weakened past 101 per dollar as Japan’s central bank kept its pledge to expand the monetary base as part of the government’s strategy to end 15 years of deflation.