New Zealand, Australian Dollars Tumble on Europe Debt Concern
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The New Zealand and Australian currencies declined for a second day as concern Europe will struggle to contain its sovereign-debt crisis sapped demand for riskier assets.
The so-called kiwi fell to a more than one month low against the dollar and yen. Losses in Australia’s dollar were limited after the Reserve Bank said in minutes of its Nov. 1 meeting there was a case for keeping interest rates unchanged.