NEW YORK: The New Zealand dollar declined against the euro after a positive survey of German business confidence bolstered investor sentiment about Europe’s largest economy.
The kiwi fell to 69.29 euro cents at 8am in Wellington, from 69.87 cents at 5pm yesterday.
The local currency slipped to 75.94 US cents from 76.40 cents yesterday.
The euro strengthened after Germany’s IFO business climate index increased for a fifth month, climbing to 107.9 in March from 106.8 in February, the strongest reading since July 2014 and higher than the 107.3 expected in a Reuters poll.
