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High revenue currencies suffer from Europe’s debt crisis

Publish Date30/05/2012 06:02:40 AM

Last Update30/05/2012 07:17:35 AM

The euro is near the lowest in two years against the dollar amid the continued worries over Europe’s crisis especially as Spain now is center stage with Bankia crisis fueling fears the nation will have to resort to international lenders.

EUR/USD pair fell to the low of 1.2456 after opening today’s session at 1.2500 and recorded a high of 1.2505. EUR/JPY pair fell to the low of 98.92 after hitting a high of 99.47.

AUD/USD pair fell amid rising tension and worries over Europe’s debt crisis and its negative effect on investors’ confidence; and aussie extended the decline after the unexpected drop in retail sales in April. The pair recorded low of 0.9774 after starting the session at 0.9847 and recorded a high of 0.9852.

USD/JPY pair fell in narrow trade where the pair traded near 79.45 level recording a high of 79.56 and low of 79.38

New Zealand’s dollar declined against the U.S. dollar amid forecasts for steady rates by the RBNZ at the lowest since 2014 in order to support the nation’s growth which made the local currency weaker.

NZD/USD pair fell to low of 0.7583 after hitting high of 0.7632 after the pair started the session at 0.7627.


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