NZ dollar weakens as emerging markets assets lose favour, RBNZ restrictions limit appeal

Tue, 20 Aug 2013

By Tina Morrison Aug 21 (BusinessDesk) – The New Zealand dollar fell to a week low as investors move out of emerging markets and new Reserve Bank restrictions on home lending limit the appeal of the local currency. The kiwi fell as low as 79.50 US cents overnight and was at 79.87 cents at 8am in Wellington, unchanged from the 5pm market close yesterday. The trade-weighted index dropped to 74.97 from 75.21 yesterday. The New Zealand dollar has shed 1.4 percent this week as investors dump emerging market assets in anticipation of the Federal...

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