NZ dollar starts 2016 weaker amid concerns about China, Middle East

Mon, 04 Jan 2016

By Tina Morrison Jan. 5 (BusinessDesk) - The New Zealand dollar has started the new year weaker as concerns about the Chinese economy and heightened tensions in the Middle East prompted investors to sell higher risk assets. The kiwi dropped to 67.42 US cents at 8am in Wellington, from 68.40 cents at 8am on Jan. 1. The trade-weighted index fell to 73.73 from 74.28 at the start of the year. Factory activity data from China missed expectations, sparking a selloff in the nation's stock market and a subsequent trading halt, while the centra...

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