Fundamental data from New Zealand was positive today, allowing the New Zealand dollar to rally against its US counterpart. The currency remained weak versus the Japanese yen.
The output Producer Price Index rose 0.9 percent in the first quarter of 2014 from the previous three months, while the input PPI increased 1.0 percent. Both figures were about twice above the forecast values. The New Zealand dollar had turbulent week and it looks like this week the currency is still not sure where to go.
NZD/USD rose from 0.8635 to 0.8648 as of 9:40 GMT today. NZD/JPY fell from 87.67 to 87.47 after rising to 87.89 earlier.
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