Risk-off suddenly in vogue for kiwi dollar as emerging market concerns stifle risk appetite

Thu, 23 Jan 2014

By Paul McBeth Jan. 24 (BusinessDesk) - The New Zealand dollar was little changed as concerns about emerging markets eroded investors’ appetite for risky assets after Argentina devalued the peso and Turkey’s lira plunged when its central bank intervened in foreign exchange markets. The kiwi traded at 82.88 US cents at 8am, paring a gain in Northern Hemisphere trading, from 82.84 cents at 5pm in Wellington yesterday. The trade-weighted index dropped to 78.43 from 78.61 yesterday. Argentina’s peso slumped 14 percent to 7.90 per US dollar af...

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