NZ dollar hits 3-month low, rebounds amid global weakness

Wed, 20 Jan 2016

By Tina Morrison Jan. 21 (BusinessDesk) - The New Zealand dollar fell to its lowest in more than three months overnight, then rebounded as investors deemed the country's growth outlook isn't as bad as its peers. The kiwi touched 63.46 US cents overnight and was trading at 64.19 cents at 8am in Wellington, from 63.77 cents at 5pm yesterday. The trade-weighted index advanced to 71.08 from 70.65 yesterday. Risk aversion dominated the market, prompting investors to seek the perceived safety of US Treasuries over equities, on concern about...

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