NZ dollar falls to 8-month low after Chinese manufacturing contracts, Bernanke says watch the data
By Paul McBeth
May 23 (BusinessDesk) - The New Zealand dollar fell to an eight-month low after figures indicated Chinese manufacturing shrank this month and Federal Reserve chairman Ben Bernanke told politicians quantitative easing could be tapered off if the world’s biggest economy keeps getting better.
The kiwi fell as low as 80.15 US cents, trading at 80.26 cents at 5pm in Wellington from 80.69 cents at 8am, tumbling from 81.47 cents yesterday. The trade-weighted index sank to 76.06 from 76.82.
HSBC’s purchasing managers’ index showed a...
Subscribe to BusinessDesk
Stay informed on business, government and financial developments across New Zealand.
- Stay informed on business, government and financial developments across New Zealand.
- Deeply researched, twice-edited and fact-checked news
- Annual subscribers also receive a complimentary subscription to The Wall Street Journal
- Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers
You can cancel anytime with two clicks, an email or a phone call.
Find out
more.
We are serious about journalism.
Or use the information you’ve already given Google to create your subscription.
Not convinced yet?
Subscribe to our free 7am Headlines newsletter.
A quick summary of everything BusinessDesk has published in the previous 24 hours. No BusinessDesk
subscription needed.