NZ dollar may test 77 US cts as Asian stocks sink amid Chinese liquidity concerns

Tue, 25 Jun 2013

By Paul McBeth June 25 (BusinessDesk) - The New Zealand dollar may fall below 77 US cents in European and US trading after fears over China’s banking sector sparked a sell-off in Asian stock markets, and prompted investors to ditch risk-sensitive currencies. The kiwi declined to 77.16 US cents at 5pm in Wellington from 77.55 cents at 8am and 77.47 cents yesterday. The trade-weighted index fell to 72.79 from 73.21 yesterday. Stocks across Asia fell as investors digest the impact of the People’s Bank of China tightening of banking liquidity...

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