NZ dollar weakens as investors seek haven assets on concern over military tension in Ukraine

Sun, 02 Mar 2014

By Tina Morrison March 3 (BusinessDesk) – The New Zealand dollar weakened as investors favoured safe haven assets on concern about increased instability in the Ukraine after Russian troops moved into the region’s Crimean Peninsula. The kiwi slipped to 83.54 US cents at 8am in Wellington from 84.21 cents at the New York close and 83.24 cents at 5pm on Friday. The trade weighted index dropped to 78.50 from 78.85 on Friday. Investors are turning to bonds, gold and the yen and moving out of higher risk investments in stocks and currencies such...

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