NZ dollar slumps to 62 US cents amid volatile trading on global growth concerns

Mon, 24 Aug 2015

By Tina Morrison Aug. 25 (BusinessDesk) - The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth. The kiwi touched 62.44 US cents overnight, its lowest level since July 2009, amid low liquidity, and was trading at 64.90 cents at 8am in Wellington, from 65.89 cents at 5pm yesterday. The trade-weighted index fell to 69.98 from 71.04 yesterday. Investors sold the kiwi as concerns about a slowdown in China spurred a flight to safe haven assets. China’s benchmark Shanghai Composite...

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