NZ dollar drops as heightened credit fears weigh on risk appetite

Tue, 09 Feb 2016

By Paul McBeth Feb. 9 (BusinessDesk) - The New Zealand dollar fell as investors grew increasingly wary of corporate credit risk, sapping their appetite for risk-sensitive assets such as the kiwi. The local currency fell to 65.89 US cents at 5pm in Wellington from 66.35 cents at 8am and 66.33 cents yesterday. The trade-weighted index declined to 71.90 from 72.33. Stocks across Asia followed Wall Street lower and US and Japanese government bonds rallied as investors sought out relatively safe assets on fears companies may default on a...

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