NZ dollar slips as Chinese shadow banking fears re-emerge ahead of economic data

Sun, 19 Jan 2014

Jan. 20 (BusinessDesk) - The New Zealand dollar fell as fears over China’s financial sector re-emerged on reports a troubled trust product won’t be bailed out, ahead of economic data which is expected to show the world’s second-biggest economy is still growing, albeit at a slower pace. The kiwi fell to 82.46 US cents at 8am from 82.62 cents at the close of trading in New York on Friday, and 82.99 cents at 5pm in Wellington. The trade-weighted index dropped to 78.40 from 78.78 last week. China’s economy grew at an annual pace of 7.6 percent...

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