NZ dollar weakens after Apple slashes sales forecast

Tue, 18 Feb 2020

The New Zealand dollar fell after technology company Apple warned its revenue will fall short this quarter because the coronavirus crisis is disrupting both production and demand in China. The kiwi was trading at 64.12 US cents at 5pm in Wellington from 64.29 cents at the same time yesterday. The traded-weighted index was at 71.32 points from 71.37. Apple said although factories in China are reopening, production is ramping up more slowly than expected, leading to shortages that will temporarily affect revenue worldwide. With all Apple...

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