Kiwi Strengthens on Positive Data from Asia

The New Zealand dollar strengthened today as the signs of improving global economy and the accelerating economic growth in Asia, particularly in China, causes the speculation that the demand for the currency will rise.
The MSCI Asia Pacific Index of shares climbed 0.6 percent. China demonstrated the stable economic growth, bolstering the kiwi as China is New Zealand’s second biggest export market. The positive economic data encourages the analysts to say that the kiwi would jump past its resistance levels versus other currencies.
USD/NZD rose to 0.7335 from 0.7325 as of 9:49 GMT, following the slump to 0.7298.

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