NZ dollar heads for 1.5% weekly slide as local and global factors erode sentiment

Fri, 18 Jul 2014

By Paul McBeth Jul. 18 (BusinessDesk) - The New Zealand dollar is heading for a 1.5 percent weekly drop against the greenback as a Malaysian passenger jet crash in rebel-held Ukraine and an Israeli ground invasion in Gaza sapped investors' risk appetite in an environment where the local currency had already fallen out of favour. The kiwi fell to 86.78 US cents at 5pm in Wellington from 88.10 cents on Friday in New York last week. It traded at 86.75 cents at 8am and 86.93 cents yesterday. The trade-weighted index decreased to 80.84 from 80...

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