NZ dollar tumbles below 84 cents on weak data, falling stocks

Mon, 15 Apr 2013

April 16 (BusinessDesk) – The New Zealand dollar extended its slide, falling below 84 US cents as financial markets digested the implications of weaker-than-expected Chinese growth which has weighed on equity markets and commodities. The kiwi dollar fell to 83.91 US cents from 85.05 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 77.27 from 78.16. China’s economic growth slowed to 7.7 percent in the first quarter from a year earlier, missing expectations of an 8 percent expansion. The Standard & Poor’s 500 Index was re...

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