New Zealand Dollar Falls as Concerns About Greece Intensify

The New Zealand dollar dropped today as growing concerns that Greece will face default caused a decline of stocks and sap demand from higher-yielding assets.

Germany’s officials debate how to help the nation’s banks in case Greece would fail to meet the bailout requirements. German Chancellor Angela Merkel will with European Commission President Jose Manuel Barroso in Berlin today to discuss the Euro-region debt crisis. The MSCI Asia Pacific Index of stocks slid as much as 2.3 percent today.

NZD/USD traded at 0.8180 as of 10:35 GMT today, following the drop from 0.8210 to 0.8117. EUR/NZD climbed from 1.6534 to 1.6713 before trading 1.6615.

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