NZ dollar hits record high vs. euro as central banks meet

Wed, 04 Jul 2012

By Hannah Lynch July 5 (BusinessDesk) - The New Zealand dollar hit a record high verse the euro after a report showed Germany's service industry unexpectedly shrank last month, adding to speculation that the European Central Bank will cut interest rates. The New Zealand dollar rose as high as 64.25 euro cents, its highest since the 17-nation currency entered circulation in 2002. It traded at 64.11 euro cents at 8am up from 63.92 cents yesterday at 5pm. The kiwi was little changed on 80.36 US cents from 80.40 cents at 5pm. Germany's service...

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