NZD Profits from Shrinking Trade Deficit, Unable to Outperform USD

The New Zealand dollar climbed against the Japanese yen, but fell versus the US dollar today. The New Zealand currency was supported by the unexpected decrease of the nation’s trade deficit, but was unable to outperform its US counterpart.
The New Zealand trade balance deficit shrank from NZ$216 million in September to NZ$168 million in October. Analysts expected the gap to widen to $345 million. The data benefited the kiwi, but the threat of Dectaper did not allow the currency to gain on the greenback.
NZD/USD was down from 0.8192 to 0.8177 as of 12:31 GMT today. Meanwhile, NZD/JPY rose from 82.96 to 83.26.

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