NZ dollar may edge higher as Chinese capital controls keep investors wary

Fri, 06 Jan 2017

By Paul McBeth Jan. 6 (BusinessDesk) - The New Zealand may extend recent gains as Chinese efforts to prevent capital leaving the country saw a sharp appreciation in the yuan at the greenback's expense, keeping investors wary of more action sanctioned by Beijing. The kiwi traded at 70.14 US cents at 5pm in Wellington from 70.24 cents at 8am, up from 69.89 cents yesterday. The trade-weighted index was little changed at 77.61 from 77.59 yesterday. The People's Bank of China fixed the yuan at 6.8668 per US dollar, 0.9 percent stronger tha...

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