NZ dollar heads for 1.6% weekly fall as commodity prices sag, investors stay gloomy

Fri, 15 Jan 2016

By Paul McBeth Jan. 15 (BusinessDesk) - The New Zealand dollar is heading for a 1.6 percent weekly decline against the greenback this week as sagging commodity prices and the prospect of a slowing Chinese economy keep investors relatively gloomy about this year's outlook. The kiwi fell to 64.32 US cents at 5pm in Wellington from 65.38 cents on Friday in New York last week, and has dropped 5.8 percent this year. It traded at 64.74 cents at 8am and 64.84 cents yesterday. The trade-weighted index is heading for a 2.8 percent weekly decline...

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