NZ dollar declines as investors favour yen after commodities fall

NZ dollar declines as investors favour yen after commodities fall
By Tina Morrison Jan. 13 (BusinessDesk) - The New Zealand dollar touched a week low against the yen as investors sought safe haven assets and eschewed commodity-linked currencies on concern about global growth. The kiwi touched 91.66 yen, and was trading at 91.94 yen at 8am in Wellington, from 92.89 yen at 5pm yesterday. The local currency dropped to 77.74 US cents from 78.53 cents yesterday. Commodities fell to a 12-year low on the Bloomberg Commodity Index of 22 energy, agriculture and metal prices, on concern a surplus in oil will c...