NZ Dollar Rallies on Monday amid Positive Market Sentiment

The New Zealand dollar rose against its most-traded peers, though not versus the euro, today amid the positive market sentiment. Underwhelming domestic data did not deter the currency from rising.

New Zealand manufacturing sales rose 0.6% in the March quarter of 2018 from the previous three months. It was a much slower rate of growth compared to 2.6% registered int the December quarter of 2017, which itself was revised down from 2.8%. Yet the kiwi was firm despite the week data as markets felt less concerned with politics.

NZD/USD rose from 0.7017 to 0.7038 as of 14:42 GMT today, touching the high of 0.7054 intraday. EUR/NZD edged up from 1.6751 to 1.6768.

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