NZD Demonstrates Limited Rally vs. USD, Drops vs. JPY

The New Zealand dollar was attempting to rise against its US peer on the back of positive domestic economic data. The rally was very limited, though, and the currency actually dropped versus the Japanese yen.

The ANZ Business Confidence climbed to 23.0 in December from 14.6 in the previous month. Earlier, this week Statistics New Zealand reported that nation’s gross domestic product expanded 0.9 percent in the third quarter of this year after growing 0.3 percent in the preceding three months. Yet all the positive reports had hard time helping the New Zealand currency, which still was feeling the impact of the Federal Reserve’s interest rate hike.

NZD/USD ticked up from 0.6695 to 0.6711 as of 12:43 GMT today. NZD/JPY dropped from 82.06 to 81.60.

If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *