NZ dollar drops below US63c for first time in four years

Fri, 30 Aug 2019

By Paul McBeth Aug. 30 (BusinessDesk) - The New Zealand dollar dropped below 63 US cents for the first time in almost four years as investors remain nervous that the US-China trade war and a slowing domestic economy will push interest rates lower. The kiwi fell to 62.98 US cents at 5pm in Wellington from 63.12 cents at 8am and 63.05 cents yesterday. The trade-weighted index was at 70.46 from 70.55 at 8am. The local currency dropped to a fresh four-year low yesterday as deteriorating expectations among businesses about their own activ...

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