NZ dollar falls as investors reduce risk in face of global bond rout, selloff in stocks

Wed, 14 Sep 2016

By Jonathan Underhill Sept. 14 (BusinessDesk) - The New Zealand dollar fell as investor risk appetite waned in the face of a global rout in bonds, weaker stocks and concerns the Federal Reserve may yet surprise markets by hiking interest rates next week. The kiwi fell to 72.60 US cents as at 5pm in Wellington, and earlier touched as low as 72.29 cents, from 73.39 cents late yesterday. The trade-weighted index fell to 77.59 from 78.13. The yield on 10-year US Treasuries has climbed to its highest levels since early June while the yield...

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