NZ dollar retraced earlier gains on better European news

Wed, 10 Jul 2013

By Tina Morrison July 11 (BusinessDesk) – The New Zealand dollar retraced earlier gains against the euro and pound on better economic data from Europe. The kiwi fell to 60.47 euro cents from 61.43 cents at the 5pm market close in Wellington yesterday and slid to 52.20 British pence from 52.75 pence yesterday. The local currency weakened to 77.95 US cents from 78.51 cents yesterday. The New Zealand dollar, which had reached a five week high against the euro and pound yesterday, weakened overnight on European optimism after French industrial...

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