NZ dollar fall as investors shun commodity currencies on China concerns

Mon, 09 May 2016

By Tina Morrison May 10 (BusinessDesk) - The New Zealand dollar fell along with other currencies linked to commodities on concern Chinese demand is waning. The kiwi dropped to 67.65 US cents at 8am in Wellington, from 68.43 cents at 5pm yesterday. The trade-weighted index declined to 72.34 from 72.79 yesterday, while the US dollar index advanced to 94.157 from 93.815. Investors shunned currencies of commodity producing countries such as Australia and New Zealand as their appetite waned for higher risk assets linked to global growth. Th...

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