NZ dollar tumbles a second day after China weakens yuan fixing again

Wed, 12 Aug 2015

By Jonathan Underhill Aug. 12 (BusinessDesk) - The New Zealand dollar dropped to a new six-year low after China's central bank lowered its yuan fixing for a second day, driving down the currency of the nation's biggest trading partner and making it tougher for exporters. The kiwi fell as low as 64.65 US cents, the lowest since July 2009, and was recently at 65.01 cents, down from 65.52 cents yesterday. The local currency rose to 4.1802 yuan from 4.1396 yuan yesterday. The Australian and New Zealand dollars dropped sharply after the Peo...

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