Kiwi dollar falls sharply

The New Zealand dollar fell sharply against major international currencies overnight Friday as sliding United States equities increased investors’ risk aversion.

Dollar picked to hit US85c
The kiwi’s decline against the major three traded currencies came even as the greenback fell to record lows against the euro and a basket of currencies for a fourth straight day.

The background to the US dollar’s continuing fragility was yet another set of dour US economic data which left traders betting on an aggressive Federal Reserve rate cut next month.

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