NZ dollar falls vs. euro on Spanish bailout speculation

Thu, 11 Oct 2012

By Hannah Lynch Oct. 12 (BusinessDesk) - The New Zealand dollar fell against the euro on speculation Spain will seek a bailout after its credit rating was downgraded and increased demand at an Italian bond sale spurred bets the region's debt crisis is easing. New Zealand's currency dropped to 63.23 euro cents at 8am from 63.55 cents at 5pm yesterday. The kiwi was little changed at 81.78 US cents from 81.80 cents. The trade weighted index was largely unchanged at 72.98 from 73.01. Rating agency Standard & Poor’s cut Spain's credit rating to...

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