NZ dollar falls as China's yuan depreciates

Thu, 22 Aug 2019

By Jenny Ruth Aug. 22 (BusinessDesk) - The New Zealand dollar fell, dragged lower by the weakening Chinese yuan which is widely viewed as China’s retaliation to US tariffs. The kiwi was trading at 63.70 US cents at 5:05pm in Wellington from 64.01 at 7:50am. The trade-weighted index was at 71.00 points from 71.24. “The yuan’s being followed at the moment because if they depreciate their currency, then it’s expected other countries will follow suit and a currency war will ensue,” says Imre Speizer, currency strategist at Westpac. “It’...

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