Both US equities and Treasuries rose after the Federal Reserve said the American economy remained on an upward path, yet downgraded its 2014 growth forecast and indicated interest rates will remain low for longer. “Economic activity is rebounding in the current quarter and will continue to expand at a moderate pace thereafter,” Fed Chair Janet Yellen said in a post-meeting …

Dairy product prices rose for the first time since February in the latest GlobalDairyTrade auction, paced by butter milk powder, as buyers found value after the recent slide in prices. Expanding global milk supply and a drop in buying by Chinese importers as they run down inventories has weighed on dairy prices this year, although lower prices are now starting …

The New Zealand dollar climbed against its trans-Tasman counterpart after the Reserve Bank of Australia minutes for its June 3 meeting showed an expectation of slower growth as the country’s mining boom winds down. The kiwi climbed as high as 92.54 Australian cents shortly after the release of the central bank’s minutes and was trading at 92.48 cents at 5pm in Wellington, up from 92.25 …