Economics
Euro Weakens as Unemployment Rises to Record; N.Z. Dollar Climbs
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The euro fell against 12 of its 16 most-traded peers as a report showed unemployment in the currency bloc climbed to a record in February, adding to concern the economy will struggle to emerge from recession.
The 17-nation currency declined against the dollar as a purchasing-manager index of manufacturing stayed below the level that shows contraction. Sweden’s krona gained for a second day versus the dollar after a factory index for the country rose. New Zealand’s dollar climbed after the nation’s commodity export prices jumped. The European Central Bank meets on April 4.