The New Zealand dollar declined today after the nation’s trade balance demonstrated a bigger deficit than was expected by analysts. The currency reached the lowest rate since February against its US counterpart.
New Zealand’s trade balance showed a shortage of NZ$692 million in July, compared to the median forecast of NZ$475 million. It was the first deficit in nine months. The kiwi sank against the greenback after the report, but recovered later somewhat and is trading sideways now.
NZD/USD slipped from 0.8341 to 0.8330 as of 12:11 GMT today, while its intraday low of 0.8310 was the weakest rate since February 27. NZD/JPY dropped from 86.79 to 86.60.
If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.
Be First to Comment