“The Australia and New Zealand currencies dropped after European finance ministers failed to agree on a debt-reduction plan for Greece, damping demand for higher-yielding assets.
The so-called Aussie and kiwi dollars slid after a decline in Japanese imports dimmed the outlook for the South Pacific nations’ shipments. New Zealand’s currency dropped versus most major peers after Auckland-based Fonterra Cooperative Group Ltd. said whole-milk powder prices fell to a seven-week low.”
“The euro fell against the dollar, snapping a two-day gain, after European finance ministers failed to agree on a debt-reduction package for Greece during more than 11 hours of talks in Brussels.
The shared currency declined versus 13 of its 16 major counterparts after Luxembourg’s Finance Minister Luc Frieden said euro-area finance ministers will resume discussions next week. The yen weakened beyond 82 per dollar for the first time since April after Japan’s exports dropped for a fifth month. New Zealand’s dollar depreciated after whole-milk powder prices slid, cutting revenue from a key export.”
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