The New Zealand dollar rallied today after the country’s trade balance deficit shrank unexpectedly last month. The currency gained on almost all of its most-traded rivals, though it has pared gains versus the euro by now.
Statistic New Zealand reported that the trade balance logged a deficit of NZ$143 million in July. That was a decrease from the June gap of NZ$288 million (revised, NZ$113 million before the revision). Analysts had predicted a surge of the shortage to NZ$400 million.
NZD/USD advanced from 0.6624 to 0.6668 as of 11:48 GMT today. EUR/NZD was up from 1.7381 to 1.7426 intraday before retreating to 1.7387.
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