Kiwi dollar may be under pressure for some time

(Image: DepositPhotos)

Tue, 15 Aug 2023

The New Zealand dollar may be under pressure for some time as economic data at home continues to be weak and concerns about the Chinese economy grow.Following stronger-than-expected producer price index data on Friday, the Kiwi dropped below 60 US cents to 59.80c – a new low for the year.On Monday, it continued down, trading at 59.63 US cents at 3pm in Wellington.It has also recently hit a three-year-low compared to the British pound sitting around £0.47 (NZ$1) and is also struggling against the Euro at €0.54 (NZ$0.99), co...

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