NZ dollar edges up as Cyprus deal may be watered down, RBA looms

Mon, 18 Mar 2013

March 19 (BusinessDesk) – The New Zealand dollar edged higher against the greenback after Cyprus delayed a vote on its EU bailout amid talk the proposal may be watered down. The kiwi rose to 82.48 US cents from 82.33 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 75.86 from 75.75. Cypriot ministers are seeking to revise the plan that would impose a levy on bank deposits as part of a 10 billion euro bailout, Reuters reported. Stocks and risk currencies sold off yesterday amid fears other debt-laden euro nations could b...

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