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

 

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news