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Tuesday, May 31, 2011

Monetary

News                                                                                                                             
Financial Times | New Zealand dollar hits record high
Higher global demand for food, particularly its meat and dairy products to helped exports outpace imports to the tune of NZ$1.11bn(US$908m) in April - a record monthly surplus, which nearly oubled market estimates of NZ$600m.
Bloomberg | Euro Advances to Three-Week High on Greek Aid-Deal Optimism; Yen Declines
The euro rose to a three-week high against the dollar on optimism European officials will approve additional assistance for Greece, reducing the potential losses for bondholders.