NZ dollar holds below 83 US cts as Italian election uncertainty erodes investor confidence

Wed, 27 Feb 2013

By Paul McBeth Feb. 27 (BusinessDesk) - The New Zealand dollar held below 83 US cents in local trading as the uncertain election outcome in Italy dented investors' appetite for riskier, or higher-yielding, assets, and trumped an unchanged outlook for this season's payout to dairy farmers. The kiwi traded at 82.43 US cents at 5pm in Wellington from 82.54 cents at 8am, down from 83.39 cents yesterday. The trade-weighted index fell to 75.49 from 76.28 yesterday. The prospect of a stalemate after Italy's first general election since the global...

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