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Dollar hits record high against Euro

July 5, 2012 - 5:43pm

The New Zealand dollar has hit a record high following the unexpected shrinkage of Germany's service industry.

The New Zealand dollar has risen to 64.25 Euro cents, its highest since the seventeen-nation currency entered circulation in 2002.

Market Strategist at the BNZ, Mike Jones, is picking the Kiwi could rise as high as 65 to 66 Euro cents, over the next couple of months.