NZ Dollar Extends Bounce from October’s Lows

The New Zealand dollar rose today, getting help from positive economic reports from China. While the currency slowed its rise as of now, it still trades above the opening level, extending its bounce from fresh lows that the currency has reached earlier this month.
The New Zealand currency, together with its Australian peer, profited from China’s economic data. While not all indicators were really positive, traders paid more attention to the good parts of the report. It allowed the kiwi to extend its bounce from this month’s low, a sign that the currency halted its long-term decline, though it is too early to tell if the NZ dollar will start an uptrend.
NZD/USD rose from 0.7965 to 0.7989 as of 14:10 GMT today, touching the high of 0.8034 intraday. NZD/JPY edged higher from 85.18 to 85.28.

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