The New Zealand dollar has been impacted by a decline in risk appetite globally on growth concerns in Europe and North America, but today, after the country’s trade balance showed a smaller trade deficit, the currency rebounded.
The kiwi, as the South Pacific currency is often referred to, rebounded from the lowest rates in almost a month as a decline in the nation’s imports allowed the negative trade balance gap to tighten, being that a favorable reason to allow the New Zealand currency to make a correction and pare its losses partially.
NZD/USD traded at 61.98 from as low as 60.88 prior to the trade balance data publication.
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