The New Zealand dollar demonstrated the same performance as its Australian counterpart today. Namely, it rose against some major rivals, like the euro and the Japanese yen, but was unable to beat the US dollar.
The major event for the currency markets during the current trading session was the monetary policy decision of Japan’s central bank. That, together with the rally of crude oil prices, boosted commodity-linked currencies, like the Australian and New Zealand dollars. Prospects for an interest rate cut may still drive the kiwi down in the future, but for now the kiwi was able to overcome the negative influence.
NZD/USD traded at about 0.6475 as of 16:20 GMT today after opening at 0.6479 and rising to the daily high of 0.6542. EUR/NZD dropped from 1.6877 to 1.6689.
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