The New Zealand dollar fell against the euro on optimism ahead of key meetings today that Greece may reach a deal with its creditors.
The kiwi touched 60.56 euro cents this morning, close to its 15-month low of 60.54 cents last Thursday, and was trading at 60.59 cents at 8am from 60.91 cents on Friday in Wellington. The local currency slipped to 68.97 US cents from 69.08 cents at the New York close and 69.17 cents on Friday.
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The Greek government at the weekend was preparing new proposals for reforms in a bid to prevent default on a 1.6 billion euro loan from the International Monetary Fund due at the end of this month, boosting optimism about the country's willingness to make concessions. Greek Prime Minister Alexis Tsipras is scheduled to meet the country's key international lenders today ahead of a meeting with the leaders of Eurozone nations as part of an emergency summit in Brussels as they seek to break a deadlock over the debt crisis.
"Today is the day in Europe," said Martin Rudings, senior dealer, foreign exchange, at OMF. "The market is leaning towards the most likely scenario is a deal of some sort, although personally I don't think a deal is a great outcome but I suppose it's slightly better than a default.