Its because the risk for grobal investor of European market increase after the announcement from the European Central Bank that it would not being buying Italian and Spanish bonds in a bid to bring yields back to sustainable levels.
As you know Currency like USD, JPY are risk aversion ( Bi Xian currency), rate will go up, and rate of High interst rate currency like NZD etc will go down, with any international encomic crisis.As investors bought into the US dollar, Japanese yen, and Swiss franc.
This time is causing by the fear of debt cresis affecting euro zone eripheral countries would spread to core member states.
