NZ dollar slips as Chinese stocks settle down, dairy auction looms

Tue, 05 Jan 2016

By Paul McBeth Jan. 5 (BusinessDesk) - The New Zealand dollar edged lower after Chinese stocks recovered from a sharp decline that sapped investors' appetite for risk-sensitive assets around the world. The kiwi declined to 67.39 US cents at 5pm in Wellington from 67.42 cents at 8am, and 67.51 cents yesterday. The trade-weighted fell to 73.55 from 74.19 yesterday. The Shanghai Composite index rose 0.4 percent in afternoon trading, allaying fears of another rout after China's benchmark stock index fell 7 percent yesterday, triggering a...

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