NZ dollar falls against euro as Draghi less gloomy, US payrolls loom

Thu, 07 Mar 2013

March 8 (BusinessDesk) – The New Zealand dollar declined against the euro after European Central bank chief Mario Draghi was less gloomy than some in the market had expected, forcing traders to cover their short positions. The kiwi fell to 63.13 euro cents from 63.70 cents at 5pm in Wellington yesterday. The local currency traded at 82.79 US cents from 82.76 cents. The ECB downgraded its economic forecast for the euro zone to a contraction of 0.5 percent in 2013 though President Draghi reiterated his expectations of a recovery later in the y...

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