New Zealand Dollar Rebound After Decline

The New Zealand dollar strengthened today after two days of decline on the speculation that the previous drop was exaggerated and the global economic growth would bolster the kiwi.
The New Zealand currency dropped yesterday on the concerns for the European debt crisis and the Korean conflict. The economists said that the currency dropped too much and the economic growth should outweigh the bad news, improving the markets sentiment and spurring the commodity currencies.
NZD/USD advanced from 0.7587 to 0.7600 as of 9:53 GMT, following the jump to the intraday high of 0.7641.

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