Greenback slips to third in NZ's expanded TWI, yuan at second

Mon, 15 Dec 2014

By Jonathan Underhill Dec. 15 (BusinessDesk) - The US dollar's weighting has slipped in the Reserve Bank of New Zealand's new trade-weighted index, which adds the Chinese yuan to a line-up of 17 currencies skewed to Asia and intended to more accurately reflect New Zealand's modern trade profile. The expanded TWI represents the biggest overhaul of the currency basket since it was introduced in the 1970s as the weighted average of five exchange rates - the greenback, euro, yen, Australian dollar and pound - that formerly accounted for the...

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