NZ dollar surges against euro on EU comment Cyprus could be template

Mon, 25 Mar 2013

March 26 (BusinessDesk) – The New Zealand dollar surged to a seven-month high against the euro after a European official said terms of a bailout for Cyprus, where uninsured depositors will face losses, could serve as a template in other euro-zone countries. The kiwi climbed to 65.01 euro cents, the highest since August last year, from 64.05 cents at 5pm in Wellington yesterday. The local currency traded at 83.52 US cents from 83.47 cents. Stocks in Europe fell and the euro sank to a four-month low against the greenback after Dutch Finance Mi...

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