NZ Dollar Gains as Economic Data Helps

The New Zealand dollar rallied today, gaining on its US peer for the second consecutive trading session and rising versus the Japanese yen as well. Economic data released from New Zealand at the start of this week’s trading was beneficial to the currency.

The Westpac Consumer Confidence rose from 106.0 to 110.7 this month. The reports about tourism and credit card spending were also encouraging. Now, market participants wait for the trade balance report, which should demonstrate a decrease of the trade deficit according to forecasters.

NZD/USD rose from 0.6721 to 0.6758 and NZD/JPY edged up from 81.51 to 81.90 as of 14:01 GMT today.

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