NZ dollar in tight range as Europe rejects Italian budget

Tue, 23 Oct 2018

By Paul McBeth Oct. 24 (BusinessDesk) - The New Zealand dollar traded in a relatively tight range after Europe rejected Italy's plans to run budget deficits, stoking fears over the region's growth. The kiwi traded at 65.56 US cents as at 8am in Wellington from 65.40 cents yesterday. It was little changed at 57.13 euro cents from 57.09 cents. Stock markets in Europe dropped with Germany's DAX 30 index down 2.2 percent as the European Commission rejected Italy's plan to incur a budget deficit of 2.4 percent of gross domestic product in...

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