The New Zealand dollar fell to the lowest in more than a week versus the euro on evidence Germany's economy is rebounding while that country makes progress on forming a coalition government.
The kiwi fell to 57.58 euro cents as at 8:30am in Wellington from 57.66 cents on Friday in Europe and from 58.03 cents in Asia at the end of last week. It was little changed at 68.75 US cents from 68.64 cents. The trade-weighted index was at 72.50 from 72.47.
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The US dollar index weakened into the end of last week as the euro gained after Germany's IFO measure of business confidence rose to a record in November, beating estimates and adding to recent strong data from the eurozone's biggest economy. Trading was relatively subdued with the US Thanksgiving Holiday and there is little economic news on the calendar for today. Meanwhile, German Chancellor Angela Merkel looks more likely to be able to form a coalition after the main opposition party indicated it may provide support.