NZ dollar drops two 2-week low as risk aversion returns, stocks, bonds fall

Tue, 13 Sep 2016

By Jonathan Underhill Sept. 14 (BusinessDesk) - The New Zealand dollar dropped to a two-week low as equities, bonds and commodities fell and investors eschewed riskier assets in favour of the greenback. The kiwi fell to 72.40 US cents, the lowest since Sept. 2, from 73.39 cents late yesterday. The trade-weighted index fell to 77.48 from 78.13. Stocks fell in Europe and the US, with the Stoxx 600 Index down 1 percent and the Dow Jones Industrial Average down 1.4 percent, while the yield on benchmark 10-year Treasury bonds rose to about...

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