NZ Dollar Climbs on Supportive News

The New Zealand dollar gained today with the help of positive news, both domestic and from abroad. The currency jumped 1 percent against the US dollar.
The ANZ Business Confidence climbed back into positive territory, demonstrating the reading of 10.5 in October after logging -18.9 in September. The report said that one of the main reasons for the improvement was the rebound of dairy prices. Talking about dairy, some analysts speculated that demand for milk products in China should increase after the country has scrapped its one-child policy. And this is good news for New Zealand as the Asian nation is its biggest trading partner.
NZD/USD climbed from 0.6693 to 0.6753 as of 11:13 GMT today. EUR/NZD dropped from 1.6408 to 1.6300.

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