NZ dollar falls as investors flee to safety over pandemic fears

Wed, 18 Mar 2020

The New Zealand dollar fell as foreign investors cash in their holdings in a flight to safety amid the worsening coronavirus crisis. The kiwi was trading at 59.60 US cents at 5pm in Wellington, off the day's low at 59.13 - its lowest since May 2009 - and down from 60.50 at the same time yesterday. The trade-weighted index was at 68.21 points from 68.84. "People are repatriating offshore investments back to the US. That's what's going on. We're just seeing holus-bolus getting out of everything," said Tim Kelleher, head of foreign exchange...

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