Feb. 18 (Bloomberg) -- The Australian and New Zealand dollars traded near two-week lows on concern slumping eastern European economies will exacerbate the global recession, raising speculation investors will dump riskier assets.
The currencies declined as commodities slipped the most in a month and crude oil, Australia’s fourth most valuable raw material export, fell below $35 a barrel in New York. A gauge of future economic growth in Australia declined for a second month in December and New Zealand’s Finance Minister said his country’s economy was shrinking for a fifth straight quarter.
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