NZ dollar slips below 70 US cents

Wed, 24 May 2017

By Paul McBeth May 24 (BusinessDesk) - The New Zealand dollar dipped below 70 US cents as credit rating agency Moody's Investors Service downgraded China's rating on fears rising debt levels could stifle growth in the world's second-biggest economy, which is also New Zealand's and Australia's biggest trading partner. The kiwi traded at 69.94 US cents at 5pm in Wellington, having touched a month-high 70.46 cents overnight, and down from 70.19 cents yesterday. The trade-weighted index was at 75.79 from 75.80. Moody's lowered China's lon...

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