NZ dollar falls as slump in copper price adds to risk aversion

Wed, 14 Jan 2015

By Paul McBeth Jan. 14 (BusinessDesk) - The New Zealand dollar fell after a slump in copper prices affirmed investors' aversion to risk-sensitive assets such as the kiwi following concern over the global outlook as cheap oil stamps out inflation. The local currency dropped to 77.02 US cents at 5pm in Wellington from 77.18 cents at 8am and 77.86 cents yesterday. The trade-weighted index declined to 78.63 from 79.24. Copper prices sank as much as 8.7 percent today to below US$5,400 a tonne after a World Bank report cut its global growth...

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