Positive Trade Balance Lifts New Zealand Dollar

The New Zealand trade balance turned positive in January, surprising analysts who expected it to remain in the negative territory. The New Zealand dollar rallied as a result.
The New Zealand trade balance had a surplus of NZ$56 million in January after posting a deficit of NZ$195 million in December. Market experts counted on a shortage of NZ$162 million. The positive data allowed the NZ dollar to rally to the highest level since January 21 against the US dollar and the Japanese yen.
NZD/USD rallied from 0.7552 to 0.7585 and NZD/JPY rose from 89.76 to 90.10 as of 9:25 GMT today.

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