NZD Fluctuates vs. USD Even as Consumer Confidence Improves

The New Zealand dollar fluctuated against its US counterpart even as consumer confidence in the South Pacific nation improved. The currency also fell versus the Japanese yen.

The Westpac Consumer Sentiment rose to 120.1 this quarter from 115.4 in September quarter, reaching the highest level since September 2009. The report said:

Consumers have become much more optimistic about the economy, and more upbeat about their own finances.

Traders a bit agitated ahead of this week’s Federal Reserve meeting, leading to erratic behaviors of currencies, especially in USD pairs. As a result, NZD/USD shows losses one minute and gains the next.

NZD/USD traded near its opening level of 0.8263 as of 16:09 GMT today after rising to 0.8286 and falling to 0.8243. NZD/JPY was down from 85.34 to 85.10, reaching 84.83 intraday.

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