The New Zealand dollar strengthened today as the positive outlook for the growth of the nation’s economy increased attractiveness of the currency.
New Zealand’s government estimated an operating surplus of NZ$1.3 billion in the year ending June 2015. Bill English, the nation’s Finance Minister, stated that the government would save NZ$5.2 billion over four years to spend on health, education and rebuilding after two earthquakes in Christchurch. Goldman Sachs Group Inc. raised its New Zealand dollar forecasts, explaining the decision by “persistent U.S. dollar weakness” and improving economic environment in the country itself, including the accelerating economic recovery.
NZD/USD rose from 0.7906 to 0.7964 today as of 13:05 GMT.
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