AUD and NZD fall to 2012 lows ahead of European summit

Source: Bloomberg
The New Zealand and Australian dollars tumbled to this year lows on worries that European leaders would not be able to make progress in solving the euro zone debt crisis during tonight's European summit. Aussie weakened against 15 of its 16 major peers. It slid 0.5 percent versus the U.S. dollar to 97.42 U.S. cents and lost 1 percent to the Japanese yen, reaching 77.65 yen. Kiwi fell 0.4 percent to 75.14 U.S. cents and dropped 0.9 percent to 59.80 yen. The MSCI Asia Pacific Index of shares fell 1.6 percent below yesterday's close.

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Wed, 23 May 2012 09:34:14 GMT

Euro hits the lowest level in 20 months

On Wednesday, at around 8:30 GMT, Euro sank to the lowest level against the dollar since the end of August 2010. This continued the losses of European stocks before the European leaders meeting. The pair hit USD 1.2613 level today after decreasing to USD 1.264 from USD 1.269 on two previous trading sessions this week.

Wed, 23 May 2012 08:26:45 GMT

EU to test new growth-stimulating programme

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