Aussie, N.Z. Dollars Decline Amid Slowing Global Economic Data
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The Australian and New Zealand dollars fell to more than one-month lows versus the greenback as crude-oil futures and stocks declined amid reduced demand for riskier assets.
The two South Pacific nations’ currencies weakened after a report showed manufacturing in the U.S. contracted for a third month and before reports today that may show retail sales in the euro area declined and services contracted. The New Zealand dollar fell versus all but one of its most-traded peers after the Reserve Bank of New Zealand said it will keep its cash rate at 2.5 percent until 2014.