NZ dollar rebounds from 6-year low as China intervenes to stabilise currency

Wed, 12 Aug 2015

By Tina Morrison Aug. 13 (BusinessDesk) - The New Zealand dollar rebounded from a six-year low as China intervened in the market to stabilise its currency, which had declined sharply following moves aimed at letting it trade more freely. The kiwi advanced to 66.19 US cents at 8am in Wellington, from 64.86 cents at 5pm yesterday after it earlier touched a low of 64.65 cents. Against the Chinese currency, known as the yuan or the renminbi, the kiwi rose to 4.2259 from 4.1689 yesterday. The trade-weighted index rose to 71 from 70.19 yesterda...

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