NZ dollar declines vs. yen as investors seek lower risk assets

Tue, 05 Jan 2016

By Tina Morrison Jan. 6 (BusinessDesk) - The New Zealand dollar fell below 80 yen as investors sought the security of the low-risk Japanese currency amid uncertainty about the global outlook. The kiwi touched 79.38 yen, its lowest level since Nov. 19 last year, and was trading at 79.65 yen at 8am in Wellington, from 80.53 yen at 5pm yesterday. The local currency weakened to 66.93 US cents from 67.39 cents yesterday. Investors are favouring the yen on concerns about global growth, heightened tensions in the Middle East and a slowdown in...

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