NZ dollar holds gains as markets get greater clarity on Chinese yuan

Thu, 13 Aug 2015

By Paul McBeth Aug. 13 (BusinessDesk) - The New Zealand dollar held on to gains overnight after the People's Bank of China gave investors more clarity on how much further it's willing to let the yuan depreciate after freeing up restrictions on trading of the currency. The kiwi traded at 66.13 US cents at 5pm in Wellington from 66.19 cents at 8am, up from 64.86 cents yesterday. The kiwi rose to 4.2360 Chinese yuan from 4.1695 yuan yesterday. China's central bank today held a press conference to better explain a new policy where it deval...

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