NZ dollar falls after Chinese growth misses expectations

Mon, 15 Apr 2013

By Paul McBeth April 15 (BusinessDesk) - The New Zealand dollar dropped half a US cent in local trading after Chinese figures showed the world's second biggest economy grew at a slower annual pace than expected in the first three months of the year. The kiwi fell to 85.04 US cents at 5pm in Wellington from 85.59 cents immediately before the release, and was down from 85.67 cents at 8.30am and 85.88 cents last week. The trade-weighted index dropped to 78.14 from 78.79 last week. China's gross domestic product grew at an annual pace of 7.7 p...

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