The New Zealand dollar fell today after the report showed that profits of Chinese industrial companies declined, adding to signs of global economic slowdown and damping prospects for New Zealand exports.
Industrial profits in China were down 5.4 percent in July from a year ago. China is the second largest trading partner of New Zealand. The Standard & Poorâs 500 Index lost 0.1 percent and S&P GSCI Index of commodities declined 0.5 percent.
NZD/USD fell from 0.8083 to 0.8070 and NZD/JPY declined from 63.65 to 63.43 as of 11:45 GMT today.
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