NZ dollar poised for 7.9% monthly fall as Europe saps risk appetite

Thu, 31 May 2012

By Paul McBeth May 31 (BusinessDesk) - The New Zealand dollar is poised for a 7.9 percent decline over the course of May as fears about Spain's banking sector and the prospect of Greece quitting the euro weigh on investors' appetite for higher-yielding, riskier assets. The kiwi was little changed at 75.36 US cents at 5pm from 75.40 cents at 8am, and down from 76.03 cents yesterday. The trade-weighted index fell to 69.07 from 69.48 yesterday, and is poised for a 5.1 percent decline this month. New Zealand's currency shed more than 6 US cent...

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