The New Zealand dollar extended its rally today, reaching the highest level since August 24 (the day when the currency has demonstrated a huge slump) against the US dollar and the Japanese yen.
The kiwi rallied after the latest Global Dairy Trade auction showed that the average price jumped almost 10 percent. Dairy products are the major source of export revenue for New Zealand. The rally of other commodities (like crude oil) also helped the growth-related New Zealand currency.
NZD/USD advanced from 0.6540 to 0.6618 and NZD/JPY rallied from 78.61 to 79.50 as of 11:41 GMT today.
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