The New Zealand dollar advanced today as retail sales grew last quarter and the growth was bigger than expected. The positive general market sentiment helped the currency too.
New Zealand retail sale rose 1.7 percent in the second quarter of 2013 after rising 0.9 percent in the first quarter. The actual increase was above the estimated growth of 1.4 percent. The general market sentiment was fairly optimistic, making investors prefer riskier currencies over safer ones.
NZD/USD rose from 0.7959 to 0.8029 and NZD/JPY went up from 78.16 to 78.71 as of 14:43 GMT today.
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