NZ dollar slips against yen as investors favour haven currency on concern about yuan decline

Tue, 25 Feb 2014

By Tina Morrison Feb. 26 (BusinessDesk) – The New Zealand dollar slipped against the yen as investors favoured the safe haven currency amid concern a decline in China’s yuan which may signal growth in Asia’s largest economy is slowing. The kiwi slipped to 85.14 yen at 8am in Wellington from 85.42 yen at 5pm yesterday. The local currency was almost unchanged at 83.32 US cents from 83.33 cents yesterday. China’s yuan fell about 0.5 percent against the US dollar yesterday, its biggest decline in more than three years, amid speculation China’s...

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