Kiwi dips amid EU pessimism

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The New Zealand dollar fell near a two-week low as markets spurned so-called risk-sensitive assets amid growing pessimism that the European Union leaders' summit would not achieve any concrete proposals to address the region's ballooning debt.

The New Zealand dollar fell as low as US76.56c and was at US76.70c at 5pm, down from US77.22c at 8am and US77.99c late on Thursday.

The trade-weighted index dropped to 68.17 at 5pm from 68.95 on Thursday.

The kiwi fell to €57.58c from €58.20c and was at 59.55 from 60.56.

It dropped to A75.92c from A76.01c on Thursday and declined to 49.12p from 49.64p.

US76.70c
What the NZ dollar was buying at 5pm yesterday