NZ dollar bounces from six-year low after market volatility takes a breather

Tue, 25 Aug 2015

By Paul McBeth Aug. 25 (BusinessDesk) - The New Zealand dollar bounced from a six-year low after two days of turmoil spurred by the prospect of deteriorating Chinese economy. The kiwi rose to 64.99 US cents at 5pm in Wellington, having briefly slumped as low as 62.44 cents, and is down from 65.89 cents yesterday. The trade-weighted index was little changed at 70.01 from 71.04 yesterday. Another decline in the Chinese stocks didn't spread to other equity markets across Asia as investors took a breather after the sharp selloff yesterday....

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