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Yuan fall no cause for panic
An expert in the Chinese travel market says the devaluation of the yuan will have a mixed impact on the China visitor market but is advising New Zealand operators not to panic.
An expert in the Chinese travel market says the devaluation of the yuan will have a mixed impact on the China visitor market but is advising New Zealand operators not to panic.
The NZ dollar rose ahead of tonight's GlobalDairyTrade auction amid expectations whole milk powder prices may gain.
The fall in the New Zealand dollar to US65c from US85c a year ago has been a blessing and a curse, writes Bernard Hickey.
The rebound came as China intervened in the market to stabilise its currency, which had declined sharply.
China surprised the world on Tuesday, announcing it would devalue its currency in a move likely to boost Chinese exports and support the country's flagging economic growth.
The NZ dollar edged lower in Northern Hemisphere trading as investors weigh the impact of China's currency devaluation.
The NZ dollar fell sharply yesterday after the US dollar spiked higher in response to China's 1.9 per cent devaluation of the yuan.
Post-crash financial reforms have failed to mend the banking industry's defective culture and hence repair its reputation.
The kiwi may advance this week as traders have already priced in a weaker dairy sector.
The New Zealand dollar rose as high as 66.36 US cents due to volatile trading over the weekend.
New Zealand's listed companies are expected to present solid results to the market in the coming months but analysts are predicting cautious outlooks.
The kiwi rose to 42.22 British pence ahead of the Bank of England's policy review on Thursday in London.
The New Zealand dollar gained against its trans-tasman counterpart after Australia's unemployment rate unexpectedly rose.
The kiwi dipped below US65c for the first time in six years as better than expected US data revived optimism.
Nicknamed "rain man" for for his incredible recall, this is the story of Tom Hayes' nine-year Libor rigging saga.
The kiwi was hit by a double whammy as dairy prices fell and a report stoked speculation the Fed would hike interest rates.
A former Citibank and UBS trader is going to jail after a jury found him guilty of masterminding the manipulation of the key Libor interest rate.
The decline occurred ahead of the Reserve Bank of Australia's decision on interest rates today.
Weak data on US employment costs prompted traders to pull back expectations for US interest rate hikes.
The research and ratings agency has released its latest survey on KiwiSaver funds and found currency had a big part to play in which funds had the highest returns.
The tide has turned on the economic boom. The slump in dairy prices has once again laid bare the vulnerabilities of a commodity-dominated economy.
Countries with large current-account surpluses need to boost domestic demand to help correct imbalances, says the IMF.
The dollar fell as the prospect of more easing by the Reserve Bank dented the appeal of the kiwi.
The New Zealand dollar fell as Reserve Bank governor Graeme Wheeler's message that the currency needs to depreciate combined with a more optimistic United States labour market.
The dollar rose on speculation Wheeler may soften his language about an easing bias, and after stocks rebounded.
Hawaii tourism boss thanking Max Key for giving island tourism a boost with his social media postings and video.
The kiwi dollar has risen to a six-and-a-half week high against the Aussie after a slump in Chinese equities markets.