NZ dollar may fall as Cyprus deal raises spectre of bank run across Europe

Tue, 26 Mar 2013

By Paul McBeth March 26 (BusinessDesk) - The New Zealand dollar may fall if a bank run in heavily indebted nations emerges after a lifeline thrown to Cyprus saw a major bank shut down and will leave uninsured depositors facing losses. The kiwi traded at 84.44 US cents at 5pm in Wellington from 83.59 cents at 8am and 83.47 cents yesterday. The trade-weighted index gained to 76.60 from 76.43 yesterday. Investors are on tenterhooks as they watch the fall-out from yesterday's deal to save the Cypriot economy with a 10 billion euro lifeline fro...

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