NZ dollar heads for 1.2% weekly fall in risk-averse markets

Fri, 26 Oct 2018

By Rebecca Howard Oct. 26 (BusinessDesk) - The New Zealand dollar is headed for a 1.2 percent weekly fall against the greenback as equity markets continue to get battered by risk-averse investors. The kiwi traded at 64.79 US cents at 5pm in Wellington from 65.13 US cents at 8am and from 65.22 cents yesterday. It was at 65.61 US cents last Friday. The trade-weighted index was at 71.37 from 71.60. "It's all US dollar-driven and equity-driven and risk-off driven," said Tim Kelleher, head of institutional foreign exchange sales at ASB Bank...

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