Australian, New Zealand Dollars Decline on Slowdown Concern

The Australian and New Zealand dollars fell this week versus the yen before a report economists said will show manufacturing growth slowed for a third month in China, adding to signs global growth is losing momentum.

The Aussie also weakened after a central bank report showed bank lending grew in June at the weakest pace in seven months. New Zealand’s dollar is set for its biggest weekly loss since July 2 against the greenback as home-building approvals declined and its central bank said yesterday deteriorating growth will slow the pace of interest-rate increases.