NZ dollar falls on concerns over Chinese, Australian economies

Mon, 02 Mar 2015

By Paul McBeth March 2 (BusinessDesk) - The New Zealand dollar fell after a rate cut by the People's Bank of China and weaker than expected Australian manufacturing figures raised concerns about the economies of New Zealand's two biggest trading partners. The kiwi declined to 75.23 US cents at 5pm in Wellington from 75.65 cents at 8am and 75.60 cents on Friday in New York. The trade-weighted index decreased to 78.37 from 78.59 last week. China's central bank cut its key lending and deposit rates over the weekend in its latest bid to sp...

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