NZ dollar slides against yen, Swiss franc, as investors exit risk currencies, favour safe havens

Tue, 27 Aug 2013

By Tina Morrison Aug. 28 (BusinessDesk) – The New Zealand dollar slumped against the yen and the Swiss franc as investors shifted to so-called safe haven currencies amid heightened expectations of military intervention in Syria. The kiwi touched a two-month low of 75.37 yen and a 15-month low of 71.23 Swiss francs. The local currency dropped as low as 77.63 US cents overnight and was at 77.98 cents at 8am in Wellington from 78.13 cents at the 5pm market close yesterday. The trade-weighted index declined to 73.44 from 73.79 yesterday. Invest...

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