NZ Dollar Drops on Negative Business Confidence, Trims Losses Later

The New Zealand dollar fell today as the business confidence remained negative. Yet by now, the currency has trimmed losses, erasing them outright against some of its rivals.
The ANZ Business Confidence remained at -37.1 in November, the same as in October. Not everything in the report was bad, though, as it said:

Encouragingly, both residential and commercial construction intentions bounced back markedly.

NZD/USD traded near its opening level of 0.6867 as of 12:35 GMT today after falling to the daily low of 0.6838 earlier. NZD/JPY opened at 78.06, fell to the low of 77.57 intraday, but rebounded to 77.84 later.

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