The New Zealand dollar gained today as business confidence improved this month. The currency advanced even as trade surplus unexpectedly shrank last month.
The ANZ Business Confidence index rose from 41.8 in May to 50.1 in June. Meanwhile, the New Zealand trade surplus narrowed from NZ$174 million in April to NZ$71 million in May. Market analysts have promised an increase to NZ$412 million.
NZD/USD rose from 0.7784 to 0.7843 and NZD/JPY advanced from 76.08 to 76.94 as of 12:37 GMT today.
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