As idle cash looks to find a strong and secure yield, it is no wonder that the New Zealand Dollar has benefited from the current Euro-Zone crisis. Pairs such as the Australian Dollar and New Zealand Dollar are often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. Although Chinese growth may become a cause for concern as the nation shifts away from export led growth, weakness in the Euro-Zone may cap any significant reversal.
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The trio of safe-haven currencies continue to lead the way among the $EUR-crosses month-to-date: EUR/JPY is up by 2.48%; EUR/USD has added 1.98%; and EUR/CHF has gained 1.24%. Get your market update from @CVecchioFX here:https://t.co/3AHlQT4zwY https://t.co/yzDD8ujej9
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