NZ dollar heads for 1.3% weekly drop as China's currency tweaks raise local export fears

Fri, 14 Aug 2015

By Paul McBeth Aug. 14 (BusinessDesk) - The New Zealand dollar is heading for a 1.3 percent weekly fall against the greenback as efforts to let China's yuan trade more freely, leading to the currency's devaluation, stoked fears about the strength of the world's second biggest economy and weighed on the local export outlook. The kiwi fell to 65.31 US cents at 5pm in Wellington from 66.16 cents on Friday in New York last week. It was down from 65.77 cents at 8am and 66.09 cents yesterday. The trade-weighted index was at 70.18 from 70.90 yes...

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