Australian and New Zealand Dollars drop before European bond auction

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Source: Bloomberg
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Aussie and Kiwi retreated from four day advance as European bailout fund prepares to auction three-year notes amid worries Euro Zones largest economies may face credit downgrading. Australian domestic currency lost 0.3% reaching $1.0349 in Sydney evening trade while New Zealand Dollar gave up 0.1% dropping to $0.7888. Currently AUD/USD is trading at $1.0361 and NZD/USD is trading at $0.7895.

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Wed, 04 Jan 2012 07:58:08 GMT

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