NZ dollar heads for 3.1% weekly slump after early market meltdown; Jackson Hole looms

Fri, 28 Aug 2015

By Paul McBeth Aug. 28 (BusinessDesk) - The New Zealand dollar is heading for a 3.1 percent weekly drop after a slump in Chinese equity markets spooked investors on Monday and Tuesday before petering out later in the week, and ahead of the annual get-together of central bankers at Jackson Hole, Wyoming. The kiwi fell to 64.73 US cents at 5pm in Wellington from 66.82 cents on Friday in New York. It was unchanged from 8am and up from 64.35 US cents yesterday. The trade-weighted index is heading for a more muted 1.7 weekly decline as other r...

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