The New Zealand dollar extended its gains today as the positive sentiment continues to reign the Forex market, bolstering the demand for the currencies linked to growth.
Italy auctioned its debt today and the results were quite good, at least nothing compared to the disastrous outcome of the German auction. There is the speculation that China is going to shift its focus from slowing the economic growth to stabilizing it near the current level. The Asian stocks rallied, helping the New Zealand currency. The MSCI Asia Pacific Index rose 1.7 percent today, following yesterday’s advance.
NZD/USD was up from 0.7549 to 0.7611 and NZD/JPY traded at 59.15, rising from the opening rate of 58.84, today as of 13:41 GMT.
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