NZ dollar drops to 8-month low vs yen on risk aversion

Sun, 12 Oct 2014

By Tina Morrison Oct. 13 (BusinessDesk) - The New Zealand dollar hit an eight-month low against the yen as investors favoured low risk currencies such as the yen amid concerns about global growth. The kiwi touched 83.82 yen, the lowest level since February, and was trading at 84.09 yen at 8am in Wellington, from 84.79 yen at 5pm on Friday. The local currency was at 78.19 US cents, from 78.14 cents at the New York close and 78.66 cents on Friday. Investors are turning away from higher risk currencies such as the kiwi and Aussie on conce...

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