NZ dollar regains ground as China halts cuts to yuan fixing

Fri, 08 Jan 2016

By Jonathan Underhill Jan. 8 (BusinessDesk) - The New Zealand dollar regained ground after China fixed the yuan reference rate marginally higher after eight straight days of cuts, easing concerns that the People’s Bank of China sees a weaker economy than many in the markets. The kiwi traded at 66.44 US cents as at 5pm in Wellington, from 66.22 cents at the start of the day and from 66.37 cents late yesterday. The local currency rose to 4.3789 yuan from 4.3744 yuan yesterday. The PBOC set the daily fixing for the yuan at 6.5636 per US d...

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