NZ dollar weakens on global tensions, weak local manufacturing

Fri, 14 Jun 2019

By Jenny Ruth June 14 (BusinessDesk) - The New Zealand dollar weakened and is headed for a weekly loss of more than 1 US cent amid ominous developments in the Gulf of Oman and as the escalation of Chinese anti-dumping duties on some steel products made traders more risk-averse. Weak domestic manufacturing data didn’t help the outlook for the local economy either. The kiwi was trading at 65.34 US cents at 5pm in Wellington from 65.65 at 8am and 66.64 last Friday in New York. The trade-weighted index fell to 71.89 points from 72.19 this...

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