New Zealand dollar declines as commodity currencies fall out of favour

New Zealand dollar declines as commodity currencies fall out of favour
Tina Morrison
By Tina Morrison Oct. 22 (BusinessDesk) - The New Zealand dollar declined as commodity-linked currencies fell out of favour on concerns about global growth after oil prices dropped. The kiwi slipped to 67.31 US cents at 8am in Wellington, from 67.48 cents at 5pm yesterday. The trade-weighted index was little changed at 72.34 from 72.33 yesterday. The US dollar index, which measures the greenback against a basket of currencies, advanced as investors favoured less risky assets following a drop in oil prices after US crude inventories inc...