![Dollar declines as investors exit higher risk trades](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Dollar declines as investors exit higher risk trades
The dollar fell after weak Chinese factory data yesterday raised concerns about a slowdown in Asia's largest economy.
The dollar fell after weak Chinese factory data yesterday raised concerns about a slowdown in Asia's largest economy.
Wall St followed the slide of equities in Europe and Asia overnight, amid mounting fears about the slowing pace of Chinese growth.
Investors are selling currencies such as the kiwi as they unwind so called 'carry trades'.
Wall St was down overnight as Fed officials left the door open for an interest rate hike this month.
Last month saw the highest number of new dwellings consented in a month since March 2005.
The USD strengthened after Fed Reserve officials signalled the US central bank is on track for a potential rate hike next month.
The dollar edged up with gains limited by a stronger US dollar buoyed by better economic data.
Asian policy-makers need to understand that currency devaluations aren't a cure-all, writes Bloomberg columnist William Pesek.
It follows a period of volatile trading as investor confidence about weakness in China abated.
The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth.
The dollar rose as traders delayed their expectations for US interest rate hikes, broadly weakening the greenback.
The New Zealand dollar gained as traders pare back bets for the Federal Reserve to hike interest rates next month.
The dollar jumped after US Fed minutes pushed out expectations for a US interest rate hike, damping greenback demand.
Wall St fell overnight after Fed minutes suggested interest rates may not be lifted next month.
The dollar was little changed after dairy product prices jumped as expected at auction overnight.
The NZ dollar rose ahead of tonight's GlobalDairyTrade auction amid expectations whole milk powder prices may gain.
Retail sales volumes edged up in the June quarter, missing expectations, as growth in online buying helped offset a slide in petrol purchases.
The rebound came as China intervened in the market to stabilise its currency, which had declined sharply.
Wall Street was mixed, recovering from steeper losses, as investors reassessed the impact of China's currency devaluation.
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.
The kiwi dropped as low as 65.50 US cents, from 66.27 cents at 1pm, and was recently trading at 65.60 cents.
The dollar consolidated overnight as comments from Federal Reserve officials kept expectations intact for a rate hike.
The kiwi may advance this week as traders have already priced in a weaker dairy sector.