The New Zealand dollar dropped today, finding little help from domestic macroeconomic indicators that were pretty good. It is important to note that most reports for June or earlier months did not have time to react to the Brexit, therefore the picture they paint is likely to be outdated.
The New Zealand dollar followed its Australian counterpart in decline even though New Zealand reports were good, unlike the Australian ones. The NZIER Business Confidence climbed from 2 to 19 in the June quarter. The ANZ Commodity Price Index grew 3.7% in June from the previous month.
NZD/USD dropped from 0.7226 to 0.7186 as of 12:50 GMT today. NZD/JPY sank from 74.09 to 73.17.
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