NZ Dollar Rises to Highest in More Than a Month

The New Zealand dollar rose today, reaching the highest level since August 7 and gaining for the fourth consecutive day on the Japanese yen. The currency got support from opinion polls regarding the upcoming general election in New Zealand and the current account report.

The election will take place on September 23. According to the poll released by One News-Colmar Brunton, support for the ruling National Party increased by 6 points to 46%, while support for the opposition Labour party declined by seven points to 37%. Meanwhile on the data front, the current account deficit shrank by NZ$1.19 billion to NZ$1.60 billion in the June quarter from the previous three months (seasonally adjusted).

NZD/USD rose as much as 1% from 0.7312 to 0.7384 as of 11:24 GMT today. NZD/JPY rallied from 81.61 to 82.15.

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