NZ Dollar Follows Aussie’s Performance

Today’s performance of the New Zealand dollar was similar to that of its Australian counterpart. The currency fell at the start of the current trading session but bounced later and is trading above the opening level right now.
The NZ dollar got help from domestic fundamentals. The BusinessNZ seasonally adjusted manufacturing Purchasing Managers’ Index rose from the revised level of 58.5 in September to 59.3 in October. The Food Price Index showed no change in October after falling in the previous month. The kiwi ignored the disappointing data from China, like its Australian counterpart.
NZD/USD advanced from 0.7876 to 0.7922 as of 10:42 GMT today following the drop to 0.7840. NZD/JPY dropped from 90.96 to 90.65 but bounced to 91.53 later, trading near the strongest level since August 2007.

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