NZ dollar falls below 79 US cts as Spanish bond yields hit record on fears of further contagion

Mon, 23 Jul 2012

By Paul McBeth July 24 (BusinessDesk) - The New Zealand dollar fell near a two-week low as the yield on Spanish 10-year government bonds rose to a record high amid fears Europe's debt woes are becoming more contagious, sapping investors' appetite for riskier assets. The kiwi fell to 78.87 US cents at 8am in Wellington from 79.40 cents yesterday. The trade-weighted index dropped to 71.68 from 72.07. The yield on Spain's benchmark government bond rose as high as 7.57 percent after the Spanish and Italian governments reinstated bans on bettin...

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