NZ dollar gains vs euro amid fears Spain will seek a regional bailout for its banks

Tue, 29 May 2012

By Hannah Lynch May 30 (BusinessDesk) - The New Zealand dollar rose against the euro after Spain backtracked on its recapitalisation plan for the recently nationalised Bankia SA, stoking fears the nation may need a rescue package and sapping investors' appetite for the region's single currency. The New Zealand dollar rose to 61.01 euro cents at 8am from 60.70 cents yesterday at 5pm. The kiwi was little changed at 76.21 US cents from 76.10 cents yesterday. The trade weighted index increased to 69.54 from 69.36. The euro sank as much at 0.6 p...

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