NZ dollar falls as Spanish woes erode confidence for global recovery

Mon, 23 Jul 2012

By Paul McBeth July 23 (BusinessDesk) - The New Zealand dollar fell in local trading as Spain's deepening debt crisis eroded investor confidence in the global recovery and sapped appetite for riskier, or higher-yielding, assets. The kiwi fell to 79.40 US cents at 5pm from 79.70 cents at 8am and 79.93 cents on Friday in New York. The trade-weighted index dropped to 72.07 from 72.40 last week. Stock markets across Asia fell after Spain's Valencia region said it will seek emergency government loans, pushing up bond yields and sparking fears t...

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