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

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