NZ dollar falls as risk appetite dims, greenback advances

Sun, 03 Mar 2013

March 4 (BusinessDesk) – The New Zealand dollar fell as Italy’s political impasses and the start of spending cuts in the US sapped risk appetite and drove up demand for the greenback. The kiwi fell to 82.28 US cents from 82.42 cents in New York on Friday. The trade-weighted index slipped to 75.71 from 75.85. The White House and the Congress were unable to reach compromise to prevent US$85 billion of spending cuts kicking in this month, which President Barack Obama said have the potential to wipe out jobs and slow the world’s biggest economy....

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