NZ dollar dips on concern Cyprus will shoot down EU-devised bailout

Sun, 17 Mar 2013

March 18 (BusinessDesk) – The New Zealand dollar fell at the open after Cyprus delayed a vote on austerity measures that are part of a 10 billion euro bailout devised by euro zone finance ministers and would result in the island’s depositors losing some of their savings. The kiwi dollar fell to 82.29 US cents from 82.72 cents in late New York trading on Friday. The trade-weighted index fell to 75.64 from 75.85. Lawmakers in Cyprus are expected to vote on the Brussels negotiated deal on Monday and the new government may not have the votes to...

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