The concerns about slowdown of the US economy eased after the set of good macroeconomic reports was released yesterday and that helped the New Zealand dollar to regain its footing.
Today’s reports from the US are also expected to be positive. New Zealand itself also gave reasons for optimism. Westpac Consumer Sentiment climbed from 97.9 to 112 in the second quarter of this year as impact of the Christchurch earthquake last September recedes. Business NZ Manufacturing Index rose to 54.7 in May from 52.0 in April.
NZD/USD rose today from 0.8046 to 0.8083 as of 10:55 GMT after falling earlier to 0.8013.
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