Economy

New Zealand dollar weakens

The New Zealand dollar weakened into the New Year amid negative global news such as China threatening Taiwan again and the European Central Bank appointing temporary administrators to run an Italian bank, Banca Carige.

The kiwi was trading at its lows at 66.56 US cents at 8.20am in Wellington compared with its high in New York overnight at 67.50. The trade weighted index was at 72.87 points from 72.95.

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