NZ dollar gains vs. Aussie as reports of weakening Chinese yuan weigh on Australia

Wed, 28 Dec 2016

By Paul McBeth Dec. 29 (BusinessDesk) - The New Zealand dollar gained against its trans-Tasman counterpart as reports of a depreciating Chinese yuan weighed on investors' outlook for the Australian economy. The kiwi increased to 96.24 Australian cents as at 8am from 96 cents yesterday, and rose to 4.8107 Chinese yuan from 4.8087 yuan. The People's Bank of China rejected reports the yuan crossed the 7 yuan per US dollar level seen as a psychological barrier, calling the stories "irresponsible". The yuan recently traded at 6.9559, near...

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