Please use a supported version for the best MSN experience. NZD dives v pound on UK snap election news NZ Newswire 1 day ago Paul McBeth Mark Coote New Zealand coin is arranged for a photograph in Wellington, New Zealand The New Zealand dollar has fallen to a seven-and-a-half-month low against the British pound after UK Prime Minister Theresa May called a snap election to seek a stronger mandate to negotiate her country's exit from the European Union. The kiwi dropped as low as 54.53 pence, the lowest since September 1, and was trading at 54.80p at 8am on Wednesday in Wellington from 55.75p on Tuesday. It declined to 65.57 euro cents from 65.82c. The British pound gained 2.3 per cent to $US1.2344 after Ms May called a general election for June 8, accusing opposition parties PrimalThin™ Protein Bar -Sweet Cream (Organic Grass-Fed Whey) - Julian Bakery of threatening her administration's preparations for Brexit. She had previously said she wouldn't go to the polls early but now says political opposition has hindered the exit and that a decisive victory would strengthen the government's negotiating position. "Commentators see an early election as a positive move that will see May's government increase its majority, provide more negotiating power in Brexit talks and decrease the probability of an exit with no EU trade deal," BNZ currency strategist Jason Wong said in a note. "In a market that has been significantly short GBP for some time, this announcement was a shock and no doubt the move higher reflects some short covering, which could continue in the weeks ahead." Dairy prices rose at the latest GlobalDairyTrade auction, with whole milk powder prices, New Zealand's key export product, rising 3.5 per cent to $US2998 a tonne. On Wednesday moring, the kiwi rose to US70.41 cents from US70.06c on Tuesday as the greenback fell against most major currencies in the shadow of the pound's ascendancy. With hard commodity prices falling the kiwi rose to 93.10 Australian cents from A92.70c, gained to 4.8427 Chinese yuan from 4.8261 yuan and traded at 76.34 yen from 76.39 yen. The trade-weighted index increased to 76.35 from 76.20.
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saturated with milk and Wisconsin dairy farmers desperately seeking buyers, a new state-led dairy trade mission to Mexico announced Thursday comes at a critical time. Ben Brancel, secretary of the Wisconsin Department of Agriculture, Trade and Consumer Protection, will lead a delegation of state officials and representatives from nine dairy and agricultural companies to Aguascalientes, Mexico, May 4-7 where they will attend Expo Leche, Mexicos largest annual dairy industry conference. State officials say the goal is to strengthen Wisconsins relations with its existing dairy customers but also to find new opportunities for the states dairy businesses. Brancel said the trade mission to Mexico was in planning long before the recent situation that was created when Grassland Dairy Products Inc. of Greenwood informed several dozen Wisconsin dairy farms it no longer would accept milk from them after May 1. Grassland lost its Canadian customers, who each day purchased more than 1 million pounds of ultra-filtered milk, a product with elevated protein content thats typically used in cheese production, so Grassland had to reduce its milk intake. With U.S.-Mexico relations strained from recent actions by the Trump administration over construction of a border wall and a pledge to reopen negotiations for the North American Free Trade Agreement, Brancel wants Mexico to know Wisconsin values its trade partnership. About $3 billion in Wisconsin exports went to Mexico in 2016, making it the states second-largest trading partner behind Canada. But we also are trying to identify new distributorships so we can market (Wisconsin dairy) products, he said. A significant player and potential major customer could be the Dominos Pizza operation in Mexico, Brancel said. We want to encourage them to use Wisconsin cheese on their pizza, Brancel said.
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