NZ dollar extends decline after China lowers yuan fixing; greenback seen rising

Wed, 04 May 2016

By Jonathan Underhill May 4 (BusinessDesk) - The New Zealand dollar extended its decline after China cut its yuan fixing against the US dollar by the most since its devaluation last August, sending the greenback broadly higher. The kiwi fell to 68.85 US cents as at 5pm in Wellington, from 69.81 cents late yesterday. The local currency fell to 4.4743 yuan from 4.5172 yuan. The People’s Bank of China set the value of the yuan at 6.4943 per US dollar, down about 0.6 percent from yesterday's fixing, according to data from the Foreign Excha...

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