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Dollar lowest against the US since December

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Dollar lowest against the US since December

By: Sam Thompson | Business News | Thursday May 24 2012 13:34

 

There's been rough ride for the New Zealand dollar, falling to a fresh low of 74.55 against the US dollar overnight.

That's the lowest since December, but it's bounced back a little to 75.30 this morning.

Westpac market Strategist Imre Spizer says the market is reacting to the Euro Group asking Governments to start preparing contingency plans for a Greek exit from the zone.

"If we see Greece exit from the Eurozone in the short term, there's likely to be market chaos and the Kiwi will almost certainly plunge significantly upon news of such an exit."

Photo: Getty Images

 

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