Yen gains for 2nd straight session

The Japanese yen continues a firm ascent against the US dollar, bouncing back from the seven year low seen earlier in the last week.
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Fonterra: 2016 payout expected at around NZ$6.25/kg

Fonterra CEO Theo Spierings, speaking in an interview, notes that the company now sees 2016 payout at around NZ$6.25/kg milk solids, adding that he is confident that whole milk powder prices will normalize. Spierings also said that the company is "aiming for NZ$50m-$60m in cost savings this year."
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