NZD weaker as global risk aversion picks up

Wed, 14 Aug 2019

By Rebecca Howard Aug. 15 (BusinessDesk) - The New Zealand dollar fell as global risk aversion picked up again after US Treasury yield curve inverted briefly overnight, often viewed as a sign of looming recession. The kiwi was trading at 64.35 US cents at 5pm in Wellington from 64.58 at 5pm. The trade-weighted index was at 71.61 points from 71.72. “The key driver of all of this risk-off sentiment was yield curve inversion,” said Kiwibank trader Mike Shirley. The US Treasury yield curve inverted on Wednesday for the first time since...

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