NZ dollar heads for 1.2 percent weekly fall as weak Chinese PMI adds to souring mood

Fri, 01 Mar 2013

March 1 (BusinessDesk) - The New Zealand dollar is heading for a 1.2 percent weekly fall against the greenback as weaker than expected Chinese manufacturing added to a souring mood among investors looking for reasons to sell. The kiwi traded at 82.71 US cents at 5pm in Wellington from 82.77 cents t 8am, down from 83.15 cents yesterday. The trade-weighted index decreased to 75.78 at 5pm from 75.96 yesterday, and is heading for a 0.8 percent weekly decline. Chinese manufacturing came in short of expectations, adding to the downbeat tone for...

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