NZ dollar heads for 2.1 percent weekly fall as focus switches to China’s banks

Fri, 25 Oct 2013

By Paul McBeth Oct. 25 (BusinessDesk) - The New Zealand dollar is heading for a 2.1 percent weekly decline against the greenback as concerns about the strength of China’s banking system fuelled fears global growth will be undermined by a slowing economy in the world’s most populous nation. The kiwi fell to 83.21 US cents at 5pm in Wellington from 84.98 cents at the start of the week, and was down from 83.43 cents at 8am and 84.19 cents yesterday. The trade-weighted index dropped to 76.42 from 77.29 yesterday, and is heading for a 2.1 percen...

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