NZ Dollar Bounces During European Session

The New Zealand dollar was falling during the Asian trading session as the nation’s trade surplus did not match expectations, being much smaller than economists have hoped for. Yet the currency bounced during the European session and is hanging close to the opening level now.

The New Zealand trade balance demonstrated a surplus of NZ$50 million in February, up from NZ$33 million in January. Still, the value was far below the forecast figure of NZ$375 million. The NZ dollar sank after the report but managed to bounce later. As of now, the currency is attempting to reestablish its downtrend.

NZD/USD traded at 0.7662 as of 13:52 GMT today following the drop from 0.7651 to 0.7601. NZD/JPY was at about 91.52 after opening at 91.60 and falling to the daily low of 91.01.

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