NZ dollar may get some respite as China bolsters economy

Sun, 07 Oct 2018

By Rebecca Howard Oct. 8 (BusinessDesk) - The New Zealand dollar fell after US jobs data on Friday, but may get some respite after China’s central bank announced a steep cut in the level of cash its banks must hold as reserves. The kiwi traded at 64.41 US cents at 8am in Wellington, unchanged from the New York close and down from 64.65 cents in Asia last week. The trade-weighted index dropped to 70.53 from 71.11. US non-farm payrolls, which showed a 134,000 increase in jobs in September, undershot expectations. But there were upward re...

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