NZ dollar falls as fears over bank stocks weigh on US equities

Thu, 29 Sep 2016

By Paul McBeth Sept. 30 (BusinessDesk) - The New Zealand dollar followed stocks on Wall Street lower as several hedge funds scaled back their business with Deutsche Bank, triggering fears the US Department of Justice's US$14 billion claim against the financial institution could have wider implications for the sector. The kiwi fell to 72.56 US cents at 8am in Wellington from 72.90 cents yesterday. The trade-weighted index declined to 77.06 from 77.26. The Dow Jones Industrial Average fell 1 percent as financial stocks including Goldma...

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