The New Zealand dollar was weak after poor employment data sapped strength of the currency. The kiwi kept its losses at the start of today’s session, but it does not look like the currency is going to fall further. In fact, it managed to rebound.
The poor employment data was completely unexpected and really hurt the kiwi. Yet today traders saw good news as New Zealand house prices rose in October. The House Price Index, issued by Real Estate Institute of New Zealand, rose 1.5 percent in October from September, when it increase 0.6 percent.
NZD/USD was up from 0.8142 to 0.8160 as of 3:34 GMT today after falling to 0.8122 — the lowest level since October 24. NZD/JPY advanced from 64.69 to 94.93.
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