The New Zealand dollar rose today against its US counterpart as the number of New Zealand building permits rose last month. Gains were limited as business confidence dropped. The currency was flat versus the Japanese yen.
The seasonally adjusted number of new dwellings grew 8.3 percent in March after falling 1.6 percent in February. The ANZ Business Confidence was down from 67.3 in March to 64.8 in April. The report was still rather optimistic, saying:
You never say never, but New Zealand remains on track to be one of the strongest performers in the OECD.
The New Zealand trade surplus widened from NZ$793 million to NZ$920 million in March.
NZD/USD went up from 0.8548 to 0.8552 as of 11:47 GMT today but retreated from the daily high of 0.8570. NZD/JPY traded not far from the opening level of 87.72.
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