NZ dollar worst performing currency as investors spooked by Chinese growth concerns

Wed, 23 Oct 2013

By Tina Morrison Oct. 24 (BusinessDesk) – The New Zealand dollar was the worst performing currency overnight, as investors switched to so-called ‘safe haven’ assets on concern China’s government is reducing its support for banks, which could stymie growth in the world’s second largest economy. The kiwi dropped to 83.78 US cents at 8am in Wellington, from 84.58 cents at the 5pm market close yesterday, making it the worst performer overnight of currencies tracked by Reuters. The trade-weighted index fell to 77 from 77.59 yesterday. Investors...

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