Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ dollar falls vs. greenback, yen as risk appetite ebbs

NZ dollar falls vs. greenback, yen as risk appetite ebbs, commodities fall

Feb. 22 (BusinessDesk) – The New Zealand dollar declined against the greenback and the yen as equities markets and commodities fell and figures showed the US economy is still growing only weakly.

The kiwi dollar fell to 83.17 US cents from 83.42 cents at 5pm in Wellington yesterday. The local currency sank to 77.36 yen from 77.97 yen.

The Thomson Reuters/Jefferies CRB Commodity Index fell 1.1 percent yesterday while Solid Energy’s weak finances underlined the damage caused by falling prices of coal. Stocks declined in Asia yesterday and continued into Europe, where manufacturing and services were weak, and the US, where jobless claims rose, consumer prices flatlined and the Philadelphia Fed’s business index dropped.

“That makes a combination of things that are risk-off” for the kiwi, said Tim Kelleher, head of institutional FX sales at ASB Institutional.

The trade-weighted index fell to 76.09 from 76.22.

The kiwi gained to 63.12 euro cents from 62.90 cents as weak euro-zone data saw the euro broadly weaker against its trading peers. The local currency fell to 54.55 British pence from 54.83 pence. The Australian dollar slipped to 81.33 Australian cents from 81.49 cents.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news