NZ dollar sinks on dramatic coronavirus impact

NZ dollar sinks on dramatic coronavirus impact
Jenny Ruth
The New Zealand dollar was weaker but off the day's lows after an enormous slump in Chinese manufacturing data brought home the economic consequences of the coronavirus crisis. The kiwi was trading at 62.29 US cents at 5pm in Wellington from 62.51 cents in New York on Friday but off the low early this morning of 61.76 cents. The trade-weighted index was at 69.51 points from 70.03 at 5pm on Friday. The official Chinese Purchasing Manager's Index data released on Saturday showed manufacturing activity contracted sharply to its lowest ever l...

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