NZ Dollar Edges Lower Despite Supportive Data

The New Zealand dollar declined today, ignoring positive domestic macroeconomic data. The currency has been consolidating lately amid slow trading due to the holiday period.

New Zealand’s trade deficit shrank to NZ$779 million in November from NZ$905 million in the previous month. It was smaller than a NZ$812 million shortage predicted by analysts. Yet the New Zealand dollar failed to profit from the supportive data, falling against its rivals.

NZD/USD edged down from 0.6801 to 0.6786 as of 14:56 GMT today. NZD/JPY declined from 82.35 to 81.83.

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